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Analyse the objectives,implementation and outcomes of the industrial policy discussing its impact on various stakeholders and its relevance to economic developmental goals?
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Analyse the objectives,implementation and outcomes of the industrial p...
Objectives of Industrial Policy:
- To promote industrial growth and development
- To enhance competitiveness of domestic industries
- To attract foreign investment
- To create employment opportunities
- To promote technology transfer and innovation

Implementation of Industrial Policy:
- Formulation of policy framework by the government
- Providing incentives and subsidies to industries
- Setting up special economic zones (SEZs) and industrial clusters
- Encouraging public-private partnerships
- Facilitating ease of doing business

Outcomes of Industrial Policy:
- Increased industrial production and GDP growth
- Creation of job opportunities and skill development
- Boost in exports and foreign exchange earnings
- Strengthening of domestic industries and increased competitiveness
- Technology transfer and innovation in various sectors

Impact on Various Stakeholders:
- Government: Achieves economic development goals and creates a conducive environment for industrial growth
- Industries: Benefit from incentives and subsidies, leading to increased production and competitiveness
- Workers: Gain employment opportunities and skill development
- Consumers: Access to a wider range of products and services due to increased industrial production
- Investors: Attracted by favorable policies and incentives, leading to increased investment

Relevance to Economic Development Goals:
- Industrial policy plays a crucial role in achieving economic development goals by promoting industrial growth, creating job opportunities, and boosting exports.
- It helps in diversifying the economy, reducing dependency on agriculture, and moving towards a more industrialized and advanced economy.
- By promoting innovation and technology transfer, industrial policy contributes to the overall development and progress of the country.
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Analyse the objectives,implementation and outcomes of the industrial policy discussing its impact on various stakeholders and its relevance to economic developmental goals?
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