Identify that reforms as a part of which the Government of India announced a new Industrial Policy in July 1991.

Economic Reforms

The correct answer is option (4) : Economic Reforms

The reforms as a part of which the Government of India announced a new Industrial Policy in July 1991 are "Economic Reforms." In 1991, India implemented a set of economic reforms known as the New Economic Policy, which included liberalization, privatization, and globalization measures to open up and modernize the Indian economy: These reforms aimed to transform and boost the country's economic growth and development.