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It was felt that government controls and regulations had put shackles on the growth of different segments of Indian Industry. Lack of adequate competition resulted in inadaquate emphasis on the reduction of costs, up-gradation of technology and improvement of quality standards. It is to reorient and accelerate industrial development with emphasis on the productivity, growth and quality improvement to achieve international competitiveness that the Industrial Policy of 1991 was announced.
Objectives of IP, 1991:
IP, 1991 has the following objects:
?? to build on the gains already made
?? to correct the distortions or weaknesses that have crept in
?? to maintain a sustained growth in productivity and employment, and
?? to attain the international competitiveness...
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