With regard to the upcoming new industrial policy for the country, the Department of Industrial Policy and Promotion (DIPP)under the Ministry of Commerce and Industry has asked different stakeholders including the Micro, Small and Medium Enterprises (MSMEs) to engage in the draft.
DIPP informed that the new policy is being drafted under a consultative approach under which various focus groups and an online survey on DIPP website was introduced.
The focus groups with members from government departments, industry associations, academia, and think tanks were involved that provided insights into the challenges faced by the industry in specific areas.
The six thematic areas include Manufacturing and MSME; Technology and Innovation; Ease of Doing Business; Infrastructure, Investment, Trade and Fiscal policy; and Skills and employability for the future.
Also a task force on Artificial Intelligence for India’s Economic Transformation has also been constituted which will provide inputs for the policy.
The Ministry informed that the new Industrial Policy will be aiming towards making India a manufacturing hub by promoting ‘Make in India’. It will also expected to incorporate the use of modern smart technologies such as IOT, artificial intelligence and robotics for advanced manufacturing.
The new Industrial Policy is likely to be announced by October later this year.