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Industrial policy to wait; tweaks likely after next elections
Mint Mumbai
|December 15, 2023
The wait for India's new industrial policy just got longer with the government expected to take a fresh look at it following global supply chain shifts, greater urgency on the green agenda, and geo-political developments, two people aware of the matter said.
Late last year, the Union commerce ministry had circulated the draft of Industrial Policy 2022-Make in India for the World, aimed to replace the 1991 policy. The draft aimed to address challenges faced by the industry through policy measures to foster and create an innovative and competitive ecosystem.
"As far as the proposed new industrial policy goes, it is currently on the backburner," the first of the two people mentioned above said on the condition of anonymity. "It would come out eventually, but not anytime soon," the person added.
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