Commerce minister kicks off consultations on new industrial policy

The prior attempts in 1956 and 1991 were formulated at a time of financial crisis.

The minister said the focus of the government was to make businesses easier for industries. Image source: PTI

Commerce and Industries Minister Suresh Prabhu sets off a series of nationwide consultations with the stakeholders on the proposed new Industrial Policy.

The first event in this regard, held in Guwahati on February 2, organised by the Department of Industrial Policy and Promotion (DIPP) in partnership with Federation of Chamber of Commerce and Industry (FICCI), was attended by more than 120 industrialists and government officials from north-eastern states, a ministry statement said today.

The Minister emphasised in his speech that this exercise was being done after 25 years to equip Indian industries for the future.

The prior attempts in 1956 and 1991 were formulated at a time of financial crisis. The minister underscored how the government was trying to understand the concerns of industries rather than the other way around.

The minister said the focus of the government was to make businesses easier for industries.

Prabhu highlighted multiple initiatives of the government to reduce the burden of regulations, while emphasising on the importance of Centre-state cooperation and the need for change even at the district-level.

The event was also attended by Chandra Mohan Patowary, Minister of Industries & Commerce, Government of Assam. In his remarks Patowary emphasised north-east region’s potential as a gateway to southeast Asia.

Puneet Dalmia, Chairman FICCI Manufacturing Committee, stressed the need to bridge the trust deficit and bolster ease of doing business.