The industrial policy of 1948 was introduced by the Government of India with the aim of promoting industrialization in the country. The policy was formulated after independence and was aimed at achieving rapid economic growth and development.

Objectives of the Industrial Policy of 1948:

The objectives of the Industrial Policy of 1948 were as follows:

1. Promotion of industrialization: The main objective of the policy was to promote industrialization in the country. The policy aimed at developing a strong industrial base that could contribute to the economic growth and development of the country.

2. Balanced regional development: The policy aimed at promoting industrial development in all regions of the country, including backward areas. This was done to ensure balanced regional development and to reduce regional disparities.

3. Import substitution: The policy aimed at reducing the dependence on imports by promoting domestic production of goods. The policy encouraged the establishment of import-substituting industries in the country.

4. Protection of small-scale industries: The policy aimed at protecting small-scale industries from competition from large-scale industries. The policy provided for the reservation of certain items for exclusive production by small-scale industries.

5. Public sector growth: The policy aimed at promoting the growth of the public sector in the country. The policy encouraged the establishment of public sector enterprises in key sectors of the economy.

6. Infrastructure development: The policy aimed at developing the necessary infrastructure to support industrial development. The policy provided for the development of transportation, communication, and power infrastructure.

Conclusion:

The industrial policy of 1948 was a significant step towards promoting industrialization in India. The policy helped in the development of a strong industrial base in the country and contributed to the economic growth and development of the country. The policy provided the necessary impetus for the growth of the industrial sector and helped in reducing regional disparities.

The indian economy was enormously exploited by the Britishers, after Independence there was negligible growth in indian Economy, to revive back the economy efforts were taken by leaders to revive the economy. One such being Industrialization, policy resolution, 1948 Which divided the Indian Economy into 4 parts.The Industrial Policy 1948 emphasised the role of cottage and small scale industries in economic development. It provided encouragement to these industries in India's industrial development programmes because these industries make use of local resources and provide larger employment opportunities.