Commerce Minister Suresh Prabhu today said new industrial policy will be announced in the next few weeks, which will focus on new industries that will drive future growth of the country.

There is a great opportunity for partnerships between India and France across various areas, Prabhu said at the Indo-French Economic Partnership signing ceremony.

“...In the ministry of commerce and industry, we have already identified few sectors which we think will be the new thrust sectors of India. We are modernising our existing industry... the new industrial policy which will be just announced in the next few weeks time...,” Prabhu said.

He added that the new policy also focuses on “those industries which are not even born today“.

“... futuristic industries which will drive the growth of tomorrow and there we see a great opportunity of partnership with France,” the Minister said.

The proposed policy will completely revamp the Industrial Policy of 1991.

The Department of Industrial Policy and Promotion (DIPP) in August last year floated a draft industrial policy with the aim to create jobs for the next two decades, promote foreign technology transfer and attract $ 100 billion FDI annually.

According to the Minister, a dedicated team would be established in Invest India for hand-holding French companies to invest and succeed in this country.