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The Indian Economy Since 1991, 2nd Edition by B. A. Prakash

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Appendix 1

Industrial Policy Reforms, 1991–95

The major policy changes initiated in the industrial sector from July 1991 include the removal of entry barriers, reduction of the areas reserved exclusively for the public sector, rationalization of the approach towards monopolistic and restrictive practices, liberalization of the foreign investment policy, far-reaching liberalization of the import policy with respect to intermediate and capital goods, measures to bring about regional balance, especially the development of backward areas, and encouraging the growth of the employment-intensive small and tiny sector.

  • The number of items in respect of which industrial licensing remains is reduced to 15. These industries account for only 15 per cent ...

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