Centre may announce new industrial policy in October

The Centre is likely to announce a new Industrial Policy to promote India as a manufacturing hub by incorporating smart technologies such as artificial intelligence and robotics for advanced manufacturing in October.

The Department of Industrial Policy & Promotion (DIPP), which is spearheading the initiative, has invited comments by September 25 on a discussion paper it is circulating to stakeholders, according to an official release. The new Industrial Policy will subsume the National Manufacturing Policy put in place by the previous UPA regime.

Six thematic focus groups and an online survey on DIPP website have been used to obtain inputs for the policy.

“Focus groups, with members from government departments, industry associations, academia, and think tanks have been set up to delve deep into challenges faced by the industry in specific areas,” the release said.

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.

“It is proposed that the new Industrial Policy will aim at making India a manufacturing hub by promoting ‘Make in India’,” the release said.

Commerce & Industry Minister Nirmala Sitharaman will hold consultations with stakeholders, including industry captains, think tanks and State governments in Chennai, Guwahati and Mumbai.