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Commerce Minister Suresh Prabhu kicks off consultations on the New Industrial Policy

Commerce Minister Suresh Prabhu kicks off consultations on the New Industrial Policy

Commerce and Industries Minister Mr Suresh Prabhu set off a series of nation-wide consultations with the industry on the proposed new Industrial Policy. The first consultation was held at Guwahati on February 02. The event, organized by Department of Industrial Policy and Promotion (DIPP) in partnership with Federation of Chamber of Commerce and Industry (FICCI), was attended by more than 120 industrialists from the North East in addition to government officials from the North Eastern States.

In his speech, the Minister emphasised that this exercise being done after 25 years truly listens to and objectively equips Indian industry for the future. The prior attempts in 1956 and 1991 were formulated at a time of financial crisis. The minister underscored how the government was coming to the industry to understand their concerns rather than the other way around. The Minister stressed the focus of the government to make business easier for industry. Mr. Prabhu highlighted multiple initiatives of the government to reduce the burden of regulations for the industry. He also talked about the importance of centre-state cooperation and the need for change even at the district-level.

The event was also attended by Mr Chandra Mohan Patowary, Minister of Industries & Commerce, Government of Assam. In his remarks Mr Patowary emphasized the North East regions potential as a gateway to South East Asia. He highlighted the need for an Industrial Policy for the North East

Ms Vandana Kumar, Joint Secretary DIPP, made a detailed presentation on the key highlights of the future policy. She mentioned the dual challenge of dealing with existing issues and in preparing the industry in the wake of global mega-trends such as servification, industry 4.0, responsible industrialization and rising protectionism. The New industrial policy envisions to create a competitive Indian industry that is equipped with skill scale and technology. Ms Kumar also highlighted some of the key ideas such as a single ID and digital platform for all G2B services across the business lifecycle, paradigm shift toward self-certification and third-party certification, plug and play infrastructure for SMEs, privatizing maintenance of industrial estates and creating a national R&D vision.

PuneetDalmia, Chairman FICCI Manufacturing Committee stressed the need to bridge the trust deficit and further the ease of doing business. Mr Atul Chaturvedi, Additional Secretary DIPP, Dr Sanjay Baru Secretary General FICCI, Dilip Chenoy Director General of FICCI were also present.

The session concluded with a vibrant Q&A session moderated by Dr Sanjay Baru SG FICCI with the industries, who highlighted their wishes and concerns.