New industrial policy to be released in few months, says Prabhu

The new industrial policy which seeks to promote emerging sectors will be released within a few months, commerce and industry […]

   

The new industrial policy which seeks to promote emerging sectors will be released within a few months, commerce and industry minister Suresh Prabhu on Tuesday said. “The new industrial policy should be releasing in next few months,” he said in New Delhi. The proposed policy, the 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 bring in new industries currently in focus. The department of industrial policy and promotion in August floated a draft industrial policy with the aim of creating jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually. Prabhu also said that on Tuesday he chaired a meeting of the task force on artificial intelligence (AI). The 18-member task force was constituted to explore possibilities to leverage 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 that it will held in March.

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