Trace the evolution of Industrial policy in India post-independence. Assess the success of these policies in fulfilling their desired objectives.

Industry contributes to around 30% to the Indian GDP. This was a due to various policy interventions by the government. Evolution of Industrial Policy: (1) Industrial policy - 1950's (2) Industrial policy ~ 1968 (3) Industrial policy - 1991 { Liberalisation, Privatization, Globalisation } Success of the policy: (1) To increase the industrial sector growth in GDP. (2) Increased the manufacturing

contribution to economy. (3) change from LPG --> LPA squeeze. (4) It keeps in increasing the foreign investments in during FDI and FPI. (5) Hedging has been successfully better current account mobility and partial capital account convertibility. More fields to be done such as boosting domestic demand, domestic infrastructure, R&D etc.