<h1>India's 1990s Industrial Policy Reform: Reduced Licensing, Boosted Foreign Investment, Opened Public Sectors.</h1> The liberalization of India's industrial policy began in the 1990s, significantly reducing the need for government approvals. Key changes included the abolition of extensive industrial licensing, promotion of foreign investment, and technology transfers, as well as opening sectors previously reserved for the public sector. The policy framework is based on the Industrial Policy Resolution of 1956 and the Statement on Industrial Policy of 1991. Currently, industrial licenses are required only for public sector-reserved industries, certain strategic and environmental sectors, and specific small-scale sector items. Most other industries are exempt from licensing, except for specific locational restrictions.