INDUSTRIAL DEVELOPMENT IN INDIA
Storyboard Text
- PRESENT
- Hello Tom. How are you today?
- Hi Daisy. I am great today.Thank you for asking.
- PRESENT
- I could not understand about the development of India that ma'am thought us. Can you teach me?
- Yes, I can teach you.
- INDUSTRIAL CHANGE SINCE 1956
- When India achieved independence in 1947, the national consensus was in favor of rapid industrialization, which was seen not only as the key to economic development but also to economic sovereignty.
- 2022
- INDUSTRIAL CHANGE SINCE 1956
- Where are we Tom?Why are the shelves here.
- We have time machined to the year 1950s.these shelves hold documents.
- 2022
- INDUSTRIAL CHANGE SINCE 1956
- Specific priorities for industrial development were also set forth in the successive Five-Year Plans.
- 2022
- Industrial Policy Resolution of 1956
- 1956
- 1956
- 1956
- The Industrial Policy Resolution of 1956 was shaped by the Mahalanobis model of growth, which suggested that an emphasis on heavy industries would create long-term higher growth. The resolution widened the scope of the public sector.
- Industrial Policy Resolution of 1956
- The Industrial Policy Resolution of 1956 classified industries into three categories. The first category comprised seventeen industries (included in Schedule A of the resolution) exclusively under the domain of the government, including, among others, railways, air transportation, arms and ammunition, iron and steel, and atomic energy.
- Industrial Policy Resolution of 1956
- The resolution, in fact, reflected the prevalent value system of India in the early 1950s, which was centered around self-sufficiency in industrial production. The Industrial Policy Resolution of 1956 was a landmark policy statement, and it formed the basis of subsequent policy announcements.
- Industrial Policy Measures, 1964–1980
- The Monopolies Inquiry Commission (MIC) was set up in 1964 to review various aspects pertaining to the concentration of economic power and the operation of industrial licensing under the IDR Act of 1951. While emphasizing that the planned economy contributed to the growth of industry, the report by the MIC concluded that the industrial licensing system enabled large business firms to obtain a disproportionately large share of licenses, which had led to preemption and foreclosure of capacity.
- 1956
- Industrial Policy Measures, 1964–1980
- In 1969 the Monopolies and Restrictive Trade Practices (MRTP) Act was introduced to enable the government to effectively control the concentration of economic power. The Dutt Committee had defined large business firms as those with assets of more than 350 million rupees.
- 1956
- Industrial Policy Measures, 1964–1980
- 1964-1980
- The Industrial Policy Statement of 1973
- With a view to prevent the excessive concentration of industrial activity in the large industrial firms, this statement gave preference to small and medium entrepreneurs over the large firms and foreign companies in the setting up of new industrial enterprises, particularly for the production of mass-consumption goods.
- 1964-1980
- 1964-1980
- The fourth category, the "De-licensed Sector," in which investment was less than 10 million rupees, was exempted from licensing requirements. The Industrial Licensing Policy of 1970 confined the role of large business firms and foreign companies to the core, heavy, and export oriented sectors.
- 1973
- The Industrial Policy Statement of 1973
- New undertakings of up to 10 million rupees in terms of fixed assets were exempted from licensing requirements for the substantial expansion of assets. This exemption was not allowed to MRTP companies, foreign companies, and existing licensed or registered undertakings having fixed assets of 50 million rupees or more.
- The Industrial Policy Statement of 1977
- This statement emphasized the decentralization of the industrial sector, with an increased role for small-scale, "tiny," and cottage industries. It also provided for close interaction between industrial and agricultural sectors. The highest priority was accorded to power generation and transmission.
- The Industrial Policy Statement of 1977
- Further, in order to ensure balanced regional development, it was decided not to issue new licenses for setting up new industrial units within certain limits of large metropolitan cities (population of more than 1 million) and urban areas (population of more than 0.5 million).
- 1973
- The Industrial Policy Statement of 19801980
- 1977
- Industrial Policy Measures, 1985–1991
- The Seventh Five-Year Plan (1985–1900) recognized the need for consolidation of these strengths and the initiation of policy measures to prepare Indian industry to respond effectively to emerging challenges.
- 1977
- Industrial Policy Measures since 1991
- 1980
- The Industrial Policy Statement of 1980 placed emphasis on the promotion of competition in the domestic market, technological upgrade, and the modernization of industries.
- 1985-1991
- 1991-2022
- Since 1991, industrial policy measures and procedural simplifications have been reviewed on an ongoing basis. Currently, there are only six industries that require compulsory licensing. Similarly, there are only three industries reserved for the public sector.
- Past
- Thank you for teaching me everything.
- You are welcome. Now we better go to the year 2022 before it gets late over there.
- present
- Are we back to the year 2022 Tom?
- Yes, yes we are back Daisy? HaHa.
- Present
- Bye Tom.
- Bye Daisy.
- 1991
- 2022
- 2022
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