Policy, Growth and Structural Change in Indian Industry

Indian Industry Yoginder K Alagh Indian industrial policy operates within the framework of overall economic policies and planning. This paper breifly discusses the back-ground of Indian economic policy and planning as also recent developments in the process of economic growth and structural change in order to outline the framework in which industrial policy operates. There have been a number of interesting changes in the structure of industry. While priority to exports at the current stage of development is accepted, the author argues for the adoption of industrial policies which will provide productive employment, lead to a more regionally balanced economy and introduce higher levels of technological dynamism. The author also makes a case for the adoption of vigorous planning policies in order to bring about a structural transformation of the economy.