Practicing Success
What was the objective of the 1991 industrial policy for the industrial units? |
To impose more obstacles for industrial growth To provide assistance and recognition to large industrial houses To limit the growth of the small-scale sector To remove obstacles and facilitate the growth of industrial units |
To remove obstacles and facilitate the growth of industrial units |
Appropriate measures were taken to remove obstacles in the way of growth and expansion of industrial units of large industrial houses. The small-scale sector was assured all help and accorded due recognition. In essence, this policy has sought to liberate industry from the shackles of the licensing system (liberalisation), drastically reduce the role of the public sector (privatisation) and encourage foreign private participation in India’s industrial development (globalisation). |