The Industries Development (Regulations) Act of 1951 aimed to regulate and develop important industries in India. It brought key industries under central government control since their activities affected the entire country. The Act introduced a licensing system to oversee planning and expansion of new projects. It established advisory councils and gave the central government powers to exempt certain industries if deemed in public interest, based on factors like number of employees, investment amount, or need to encourage small businesses. The objective was to implement industrial policy nationwide and govern important sectors according to all-India economic priorities.