Question : Which of the following is not an important feature of the Industrial Policy of 1991?
Option 1: Foreign Technology Agreements
Option 2: Industrial Licensing Policy
Option 3: No Foreign Trade Policy
Option 4: Public Sector Policy
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Correct Answer: No Foreign Trade Policy
Solution : The correct answer is No Foreign Trade Policy.
The Industrial Policy of 1991 had the objective of liberalizing the Indian economy, promoting competition, encouraging foreign direct investment (FDI), and fostering a more open and market-oriented industrial sector. On the other hand, the Foreign Trade Policy (FTP) is a distinct policy that outlines the strategies and measures related to India's international trade.
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