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Suresh Prabhu to meet industry next month on new industrial policy

PTI | New Delhi |

Commerce and Industry Minister Suresh Prabhu will hold consultations with industry representatives next month on the proposed industrial policy.

The first meeting is scheduled on February 2 in Guwahati and the second on February 9 here, an official said.

The proposed policy, the draft of which has been prepared by the Commerce and Industry Ministry, 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 USD 100 billion FDI annually.

The department is working to formulate an outcome oriented actionable policy that provides direction and charts a course of action for a globally competitive Indian industry that leverages skill, scale and technology.

Among other things, the policy would endeavour to reduce regulations and bring in new industries currently in focus.