The primary objectives of the industrial policy were to promote major industries from the clutches of bureaucrats, to abolish restrictions on foreign direct investment, to Iiberate the indigenous enterprise from the restrictions of MRTP Act, to maintain a sustained growth in productivity and employment and also to achieve international competitiveness.

i) Foreign exchange reserves started rising.
ii) There was a rapid industrialization.
iii) The pattern of consumption started improving (or) deteriorating.
iv) Infrastructure facilities such as express highways, metro rails, flyovers and airports started expanding.

The new EXIM policy has been formulated focusing on increasing in exports scenario, boosting production and supporting the concepts like Make in India and Digital India.

A storage of agricultural commodities in a cold place for preservation.

Globalization refers to the integration of the domestic (india) economy with the rest of the world.

Liberalization refers to removal of relaxation of governmental restrictions in all stages in industry.

Late Prime Minister of India Shri Narasimha Rao had announced the new Industrial Policy on July 24, 1991

(i) Increase in unemployment
(ii) Decrease in tax receipts

(i) Expansion of Market
(ii) Development of Infrastructure
(iii) Higher Living Standard
(iv) International Co-operation

Under the Agricultural Produce market Committee (APMC) Act 2003, the Agricultural Produce Market Committee (APMC) is a statutory body constituted by state government in order to trade in agriculture or horticulture or livestock products.

(i) Agriculture in India is highly prone to risks like droughts and floods.
(ii) It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season.
(iii) For this purpose, the government introduced many agricultural schemes through the country.

Mega Food Parks; Integrated Cold Chain; Value Addition Preservation Infrastructure; Modernization of Slaughterhouse; Scheme for Quality Assurance; Codex Standards; Research and Development and other promotional activities.

It is an area in which business and trade laws are different from rest of the country mainly aiming at increasing trade, investment and job creation.

Disinvestment means selling of government securities of public sector undertakings to other PSUs or private sectors or banks.

(i) Liberalization was needed because the various licensing policies were preventing economic growth.
(ii) Since the private sector was not given enough opportunities to earn more money privatization was done.
(iii) Globalization was needed because today a developed country
can grow without the help of the underdeveloped countries.