When was the first Industrial Policy established in India?

• The first Industrial Policy post-Independence was announced in 1948.
• Known as the Industrial Policy Resolution of 1948, it was declared on 6th April 1948 and presented by Dr. Shyama Prasad Mukherjee, then Industry Minister, in the Parliament.
• It was the first major policy document on Industries and stressed the concept of a mixed economy to accommodate both private and public industries and thereby promote development. It also laid stress on the role of the state.
• It proposed a four-fold classification of Industries;

1.  Items under government control: Arms and Ammunition, Atomic Energy,and Railway Transport.
2. Items under the state government control: Coal, Iron & Steel, Aircraft, manufacture, Shipbuilding, Manufacture of telephone, telegraph, and wireless apparatus.
3. Items of basic importance: Salt, Automobiles, Tractors, Heavy Machinery, Machine Tools, Heavy Chemicals, Fertilizers, Power, Cotton, and Woolen textiles. These were planned and regulated by the Central Government.
4. Other industries not included in the above list were open to the private sector.

• Cottage and small-scale industries were also given importance.

Further Reading:

• Industrial Policy in India
• Small Scale and Cottage Industries

Find more related IAS Questions in the linked article.

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