Evolution of Indian industrial policy

Abstract

One of the key areas of economic policy is industrial policy which supports and outlines the strategy for the industrial development in a given country. This is particularly important in developing countries that look for an appropriate development strategy enabling the country to grow rapidly and develop afterwards. In group of developing countries, India is one of the most interesting cases. Since its liberation from British rule, the country has implemented various development strategies designed to result in a high rate of economic growth. However, it was not until the paradigm shift in industrial policy after 1990 that resulted in high growth rates and India became one of the fastest growing economies in the world. The aim of the article is to analyze the changes in Indian industrial policy from independence to the economic reforms of the 1990s. The study uses historical analysis based on domestic and foreign literature as well as an analysis of existing data. The article ends with an overview of the enterprise sector in today’s India which is a contribution to further research and discussion

Keywords

• india
• indian economy
• industrial policy
• economic reforms