Industrial policy refers to a set of strategic measures and government interventions aimed at promoting the growth and development of specific industries or sectors within an economy. It involves a range of policies, regulations, and initiatives designed to enhance the competitiveness and productivity of targeted industries.
The objective of industrial policy is to foster economic transformation, stimulate industrialization, and enhance overall economic performance. Governments often intervene in the economy to address market failures, promote innovation, improve infrastructure, provide targeted incentives, and create a favorable business environment for specific industries or sectors.
