New industrial policy in few months: Suresh Prabhu

Browse By

The new industrial policy which seeks to promote emerging sectors will be released within a few months, Commerce and Industry Minister Suresh Prabhu said yesterday. “The new industrial policy should be releasing in next few months,” he told reporters here. The proposed policy, the draft of which has been prepared by the ministry, will completely revamp the Industrial Policy of 1991.

The new industrial policy, which seeks to promote emerging sectors, will be released within a few months, Commerce Minister Suresh Prabhu said on Tuesday. “The new industrial policy should be [released] in the next few months”. The proposed policy, a draft of which has been prepared by the Ministry, will completely revamp the Industrial Policy of 1991. Among other things, it would endeavour to reduce regulations and widen the purview to new industries currently in focus.

In August, the Department of Industrial Policy and Promotion had floated a draft industrial policy whose aim is to create jobs over the next two decades, promote foreign technology transfer and attract $100 billion in FDI annually. Prabhu also said that today he chaired a meeting of the task force on artificial intelligence.

The 18-member task force was constituted to explore possibilities to leverage artificial intelligence (AI) for economic transformation. The ministry said in a statement that after detailed discussions, the members drafted its preliminary recommendations which were discussed at the meeting. On WTO’s mini-ministerial meet, to be organised by India, he said it will held in March.

YD Chat