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Industrial Policy and DevelopmentThe Political Economy of Capabilities Accumulation$
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Mario Cimoli, Giovanni Dosi, and Joseph E. Stiglitz

Print publication date: 2009

Print ISBN-13: 9780199235261

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199235261.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 November 2019

The Past, Present, and Future of Industrial Policy in India: Adapting to the Changing Domestic and International Environment

The Past, Present, and Future of Industrial Policy in India: Adapting to the Changing Domestic and International Environment

Chapter:
(p.277) 11 The Past, Present, and Future of Industrial Policy in India: Adapting to the Changing Domestic and International Environment
Source:
Industrial Policy and Development
Author(s):

Ajit Singh

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199235261.003.0011

In the post-World War II period, India was probably the first non-communist developing country to have instituted a fully-fledged industrial policy based on some form of central planning. The purpose of the policy was to co-ordinate investment decisions both in the public and the private sectors and to seize the “commanding heights” of the economy by bringing certain strategic industries and firms under public guidance. This chapter argues that the ensuing industrial policies not only had a major role in fostering India's industrial revolution but still play an important role in the current period of rapid growth.

Keywords:   planning commission, industrial strategies, public coordination, industrial policy, central planning

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