GS Advance Program for UPSC Mains 2025, Cohort - 1 Starts from 24th October 2024 Click Here for more information
New Industrial policy in a few months: Commerce Minister
Context
The new industrial policy, which seeks to promote emerging sectors, will be released within a few months, Commerce Minister Suresh Prabhu said on Tuesday.
August draft envisaged attracting $100 billion in annual FDI
- The proposed policy, a draft of which has been prepared by the Ministry, will completely revamp the Industrial Policy of 1991
- It would endeavour to reduce regulations and widen the purview to new industries currently in focus.
- In August, the Department of Industrial Policy and Promotion had floated a draft industrial policy whose aim is to create jobs over the next two decades, promote foreign technology transfer and attract $100 billion in FDI annually.
AI task force
The 18-member panel was constituted to explore possibilities to leverage artificial intelligence for economic transformation.
The Ministry said in a statement that the members drafted preliminary proposals that were discussed at the meeting
WTO Mini ministerial meet in March
Mr.Prabhu said WTO’s mini-ministerial meet to be organised by India would be held in March.
