The Past, Present And Future Of Industrial Policy In India: Adapting To The Changing Domestic And International Environment

This paper takes a wide view of industrial policy, emphasising the government's continuing coordinating role in various spheres. It regards the institution of the Planning Commission as a major benefit for the country particularly as its role in formulating industrial policy in the narrow sense and in guiding India's ongoing industrial revolution in the broader sense is still widely accepted by the mainstream political parties of the left and the right. The paper suggests that industrial policy and planned economic development did not come to an end with the deregulation of India's traditional investment regime in the 1980s and 1990s.