Industrial policy sets standards and measures to evaluate manufacturing progress and economic growth. The government encourages competitiveness through various firms. Objectives include steady productivity growth, more employment, better resource use, and matching international standards. Industrial policy provides rules for public and private sectors to reduce monopolies and prevent concentration of economic power. It aims to shift capital and resources to manufacturing for productivity growth, deeper linkages, economies of scale, and new export opportunities. Major Indian industrial policies include resolutions from 1948 to 1991 that established frameworks while prioritizing small industries, employment, decentralization, and later liberalization, privatization, and globalization.