The Centre will soon constitute a working group on the proposed new industrial policy which is aimed at promoting emerging sectors, reducing regulatory hurdles and making India a manufacturing hub, an official has said. The working group will rework on it and submit the same to the DPIIT, the official said. This will be the third industrial policy after the first in 1956 and the second in 1991. It will replace the industrial policy of 1991 which was prepared in the backdrop of the balance of payment crisis. The new policy will subsume the National Manufacturing Policy (NMP).

Source: The Hindu September 29, 2019 05:51 UTC