THE EFFECT OF INDUSTRIAL POLICY TOWARDS THE GROWTH OF PRIVATE SECTORS IN INDIA
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DOI:
https://doi.org/10.55662/Keywords:
Private Sectors, Industrial Policy Resolutions (IPR), new economic policy, Employment, Ministry of Corporate Affairs, Registered companiesAbstract
During 18th and 19th centuries, private sector units were adopted a Laissez-faire variety. After the industrial policy 1991, the private sector was allowed to participate in some restricted sector like insurance, telecom etc. Private enterprises are actually business organizations that were owned and managed by private partners. There are various forms of business in private organisation, such as Sole Proprietor, Partnership, Limited Companies, Cooperatives, Franchise, etc.. The main aim of this organisation is to earn profit. The private sector plays an important role for the economic development of the country. The Industrial Policies of India were also framed to meet the challenges and to obtain economic development and growth through industrialization. This paper presents the changing face of India’s Industrial Policies and Economic Development due to boom in private Industries.
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