Suresh Prabhu holds meetings with businesses on new industrial policy

Commerce and Industry Minister Suresh Prabhu has started a series of consultations with stakeholders in different states on the proposed new industrial policy, an official statement said today.

The policy is being formulated in the wake of changing - trends such as industry 4.0, responsible industrialisation and rising protectionism, it said.

The earlier industrial policies of 1956 and 1991 were formulated at the time of financial crisis, it said.


"The new industrial policy envisions to create a competitive Indian industry that is equipped with skill scale and technology," the ministry said in the statement.

It said the first meeting was held in Guwahati last week during which Prabhu stated that the exercise is important in understanding concerns and issues of the industry.

Joint Secretary in the ministry Vandana Kumar made a presentation on the key highlights of the future policy.