The industrial policy refers to such formal declaration by the government through which general policies for industries are adopted by the government are made public

The term industrial policy refers to the government policy towards industries with regards to the establishments, functioning, growth and management The policy will indicated the respective areas of large, medium,and small scale sectors The industrial Development of a country will shapes ,guided, regulated and controlled by it's industrial policy

Need/importance/ objectives of industrial policies

Deployment of natural resources
Modernisation
Balanced industrial development
Balanced regional development Coordination between basic and consumer industries Utilisation of foreign assistance

1.Deployment of natural resources

The industrial policy helps in full deployment of natural resource of the country.it helps in identifying,collecting and using resources properly.it facilitate the increase in national income of the country 2.Modernisation Industrial policy encourages modernisation for increasing industrial output and productivity .it envisages the use off modern and latest production techniques in industrial sector

3) Balanced industrial development

The industrial policy envisages balanced industrial development of the country.It also facilitate balanced development of various sectors of the economy

4) Balanced regional development
The industrial policy helps in balanced regional development of the country.the industrial policy may contain provision s regarding facilities or concessions for rapid development of industrially backward regions of the country
5) coordination between basic and consumer industries

The balanced development of basic and consumer industries essential for economic growth.The industrial policy encourages development of basic and key industries on the one hand while attention is paid to the development of consumer industries on the other.Thus by balanced and coordinated development of both the type of industries,it provides a pace to economic growth

6)Utilisation of foreign assistance
An appropriate industrial policy helps to attract foreign capital and entrepreneurs.The foreign aid can be used in the national interest if an appropriate industrial policy is pursued

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