When "New economic policy" was introduced, import licensing was abolished for all industries except for which of the following?

Hazardous and environmentally sensitive industries

Before 1991, India was following an import substitution policy also known as inward looking trade strategy where imports were being discouraged. But these policies were hampering the growth of the manufacturing sector. Thus, reforms were introduced to reduce the licensing. Import licensing was abolished except in case of hazardous and environmentally sensitive industries.