Commerce and Industry Minister Suresh Prabhu announced the new industrial policy that will seek to promote emerging sectors will be released early next year.
The proposed policy, the draft of which has been prepared by the Commerce and Industry Ministry, will completely revamp the Industrial Policy of 1991.
The draft policy is ready and the ministry is now planning to organise 8-9 roadshows to discuss it with all the stakeholders.
Among other things, the policy would endeavour to reduce regulations and bring in new industries currently in focus.
The Department of Industrial Policy and Promotion (DIPP) in August floated a draft industrial policy with the aim to create jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually.
The department is working to formulate an outcome oriented actionable policy that provides direction and charts a course of action for a globally competitive Indian industry that leverages skill, scale and technology.
