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Department of Industrial Policy |
Department of Industrial Policy
The Department of Industrial Policy and Promotion was set up in 1995. With the merger of the Department of Industrial Development, it was reconstituted in 2000. Previously, in October 1999 two separate Ministries for Small Scale Industries & Agro and Rural Industries and Heavy Industries and Public Enterprises were established.
After 1991, the role and function of the department has undergone a consistent change due to the progressive liberalization in the Indian economy. Earlier, the department used to look after the regulation and administration of the industrial sector. Now, the role has shifted to facilitating investment and technology and monitoring industrial development in the liberalized era.
The primary role and functions of the Department of Industrial Policy and Promotion include:
- Formulation and implementation of industrial policy and strategies for industrial development in compliance with the development needs and national objectives;
- Monitoring the industrial growth, in general, and performance of industries specifically assigned to it, in particular, including advice on all industrial and technical matters;
- Formulation of Foreign Direct Investment (FDI) Policy and promotion, approval and facilitation of FDI;
- Encouragement to foreign technology collaborations at enterprise level and formulating policy parameters for the same;
- Formulation of policies relating to Intellectual Property Rights in the fields of Patents, Trademarks, Industrial Designs and Geographical Indications of Goods and administration of regulations, rules made there under;
- Administration of Industries (Development & Regulation) Act, 1951
- Promoting industrial development of industrially backward areas and the North Eastern Region including International Co-operation for industrial partnerships and
- Promotion of productivity, quality and technical cooperation.
Department of Industrial Policy & Promotion is accountable for formulation and implementation of promotional and developmental measures for progress of the industrial sector, considering the national priorities and socio-economic objectives. Individual Administrative Ministries supervise the production, distribution, development and planning aspects of specific industries allocated to them. Department of Industrial Policy & Promotion is responsible for the overall Industrial Policy.
In general, Department of Industrial Policy and Promotion monitors the industrial growth and production and in particular, selected industrial sectors, such as cement, paper and pulp, leather, tyre and rubber, light electrical industries, consumer goods, consumer durables, light machine tools, light industrial machinery, light engineering industries etc. Whenever necessary, suitable interventions are made on the basis of policy inputs generated by monitoring and periodic review of the industrial sector. The Department studies, assesses and predicts the demand for technological development in specific industrial sectors. The Department plans for modernization and technological up gradation of the Indian industry so that it can consistently keep pace with the international developments in industrial technology.
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