It is proposed that the new Industrial Policy is aimed at making India a manufacturing hub by promoting ‘Make in India’ and is focusing on the use of modern smart technologies such as IoT, artificial intelligence and robotics for advanced manufacturing.
The Department of Industrial Policy and Promotion, Ministry of Commerce and Industry has initiated the process of formulation of a new Industrial Policy in May 2017. The new Industrial Policy will subsume the National Manufacturing Policy.
A consultative approach has been taken for industrial policy formulation wherein six thematic focus groups and an online survey on DIPP website have been used to obtain inputs. Focus groups, with members from government departments, industry associations, academia, and think tanks have been setup to delve deep into 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. A Task Force on Artificial Intelligence for India’s Economic Transformation has also been constituted which will provide inputs for the policy. All comments, suggestions, feedback on the new Industrial Policy may be sent to DIPP at firstname.lastname@example.org or email@example.com before September 25, 2017.
The Minister of State (Independent charge) for Commerce & Industry Nirmala Sitharaman will hold consultations with stakeholders, including industry captains, think tanks and state governments in Chennai, Guwahati and Mumbai.
The New Industrial Policy is likely to be announced in October 2017.