CURRENT AFFAIRS

Detailed explanation-1: -The State Government of Gujarat has announced a new Industrial Policy 2020 (7 August 2020 to 7 August 2025), a copy which is enclosed for ready reference.

Detailed explanation-2: -The Government of India announced its new industrial policy 1991 on July 24, 1991, with the goal of correcting the distortions and weaknesses in the country’s industrial structure that had developed over four decades, raising industrial efficiency to international levels, and accelerating industrial growth.

Detailed explanation-3: -The proposed new industrial policy, which will replace the industrial policy of 1991, seeks to achieve One Nation-One Standard, promote startups in every district, create startup innovation zones at the level of urban local bodies, and incentivise Indian speciality products by creating premium international brands.

Detailed explanation-4: -The state government also plans to provide incentives to promote industries and research and development. Seven new GIDC estates are proposed in Ode-Anand, Khandivav-Balasinor, Morbi, Madhiya-Bhavnagar, Dahej-SEZ, Bharuch, bulk drug park in Jambusar and Dhrol- Jamnagar.