Commerce and Industry Minister Suresh Prabhu has reviewed proposed agriculture export policy and new industrial policies. He also scrutinized various export promotion strategies. He said that the government working on new initiatives to take India's exports to the next level.
In March 2018, a draft Agri Export Policy has been released by the Commerce Ministry, which is aimed at doubling agricultural exports and integrate Indian farmers and farm products to the global value chain. Besides, the new industrial policy will replace the old policy of 1991 which was prepared against the backdrop of balance of payment crisis. The proposed industrial policy aims at promoting emerging sectors and modernising existing industries. It will also look to reduce regulatory hurdles and encourage adoption of frontier technologies such as robotics and artificial intelligence.
Last year, in August, the Department of Industrial Policy and Promotion (DIPP) floated a draft industrial policy aiming to create jobs for the next two decades, promote foreign technology transfer and attract $100 billion FDI annually.