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GOI: Draft New Industrial Policy and National E-Commerce Policy to be released soon
On March 18, 2020 the Ministry of Commerce and Industry announced in the parliament that New Industrial
Policy and National E-Commerce Policy are to be released soon. The policies are to be framed by the
Department of Promotion of Industry and Internal Trade (DPIIT).
New Industrial Policy
Previously NIP was launched in 1991. Since then the policy has not been updated. The 1991 NIP aimed at
Liberalization, Privatization and Globalization. It also aimed to increase economic growth rate and also to
build sufficient foreign exchange reserves. The policy also focused in international flow of goods and
services in the country with several restrictions. The current government has been liberalizing these
restrictions and has increased the ease of doing business with India. Hence India has reached to 63rd rank
in World Bank’s recent Ease of Doing Business ranking.
The New Industrial Policy will be the third policy in Indian History after the policies that were released in
1956 and 1991. Both of those policies were prepared focusing on balance of payment crisis.
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