The Government is planning to constitute a working group on the proposed new industrial policy which is aimed at promoting emerging sectors, reducing regulatory hurdles and making India a manufacturing hub. The six focus sectors include manufacturing and MSME; technology and innovation; ease of doing business; infrastructure, investment, trade and fiscal policy; and skills and employability for the future. This will be the third industrial policy after the first in 1956 and the second in 1991. The new policy will subsume the National Manufacturing Policy.

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