Describe some of the policies adopted under industrial sector reforms.
The various measured under industrial policy reforms include:
a) Reduction in industrial licensing: The new policy abolished the License Raj system for all projects except for a few exceptions.
b) Decreased role of the public sector: The number of industries, exclusively reserved for the public sector, reduced from 17 to 3.
c) De-reservation under small-scale industries: Many goods produced by small scale industries were de-reserved.
d) Monopolies and Restrictive Trade Practices (MRTP) Act: Requirement for large companies to seek prior approval for expansion, mergers, diversification etc. were eliminated.