New Industrial Policy

New industrial policy was applied on 24th July 1991. There were many amendments in this industrial policy. New industrial policy is very different from old industrial policy.

Objectives of New Industrial Policy

1. Main objective of new industrial policy is to free industrial economy from unnecessary control of Indian administrators.

2. To reduce the weak points of different industries in India.

3. To start liberalization for connecting Indian Industries to foreign industries.

4. To remove the restrictions on direct foreign investment.

5. To remove the restrictions of MRTP act on domestic trades.

6. To try best to increase employment in industries.

7. To increase competitiveness in international trade.

8. To make the provision for increasing the profit of public organisations.

9. To 100% use of domestic resources of India.

10. To do more research for effective use of internal resources.