After 60 years of development efforts, India is presently one of world`s fastest growing economies. In the last few years, it has emerged as a global economic power, the leading outsourcing destination and a favourite of international investors. In India, the tilt towards economic liberalisation started in 1985 when Government announced a series of measures aimed at deregulation and liberalisation of industry. These measures, described as New Economic Policy, were followed by drastic changes introduced by the 1991 Industrial Policy Statement of the Government. By and large, Indian industry has upgraded technology and product quality to a significant degree and met the challenge of openness after being protected for so long.

    The Competition Act, 2002 passed by the Parliament seeks to establish a pro-competitive legal framework, contain anti-competitive practices and abuses of dominance and yield better regulation of markets. Micro, Small and Medium Enterprises Development Act, enacted on June 16, 2006, provides the first-ever legal framework recognising the concept of enterprise (comprising both manufacturing and service entities) and gives an investment-based definition to the three terms. Similarly, various initiatives have been taken for the development of infrastructure. India Infrastructure Finance Company Limited (IIFCL) was incorporated on January 5, 2006 to lend funds of longer term maturity, directly to the eligible projects to supplement other loans from banks and financial institutions. Electricity Act, 2003 recognizes trading of power as a distinct activity and permits State Electricity Regulatory Commissions (SERCs) to allow open access in distribution of electricity in phases that would ultimately encourage efficiency and competition. Rajiv Gandhi Grameen Vidyutikaran Yojana ((RGGVY) was launched by the Prime Minister on April 4, 2005. This scheme is for rural electricity infrastructure and household electrification. On August 15, 2002, the Prime Minister approved an important initiative called National Rail Vikas Yojana to put Indian Railways on the path of fast track growth. The National Highways Development Project (NHDP)¾the largest highway project ever undertaken by the country¾is being implemented by the National Highways Authority of India (NHAI). New Telecom Policy (NTP), 1999 provides the basic framework for the future development and growth of the telecom sector in the country. Special Economic Zones Act, 2005 seeks to promote value addition component in exports, generate employment and mobilize foreign exchange.

    Part I of the book contains 10 chapters which trace developments in different aspects of industrialization during the post-Independence period and explain key reform measures undertaken for making Indian industry internationally competitive. Part II consists of 7 chapters which deal with various facets of infrastructure development in India. Part III provides year-wise review of problems, policies and progress of industry and infrastructure in India, covering the period 1947-48 to 2008-09. Part IV consists of appendices which provide relevant material on different aspects of Indian industry and infrastructure. Part V contains glossary of terms related to industry/infrastructure.

1. Indian Industry: An Introduction - Pre-Independence Industrial Scene; Legal Framework for Industrialisation; Consumer Protection in India.

2. Post-Independence Industrial Policy: A General Review - Industrial Policy Resolution, 1948; Industrial Policy Resolution, 1956; Devaluation of the Rupee and Industrial Liberalization, 1966; Industrial Licensing Policy Inquiry Committee (ILPIC), 1969; Secretariat for Industrial Approvals (SIA), 1973; Industrial Policy Statements 1973, 1977 and 1980; Industrial Policy, 1950-80: A Critique; Disillusionment and Rethinking; Pressure for Industrial Liberalisation; New Economic Policy and Industrial Liberalisation, 1985; Industrial Policy Statement, 1991: The Turning Point; Industrial Policy Outlook; Conclusion.

3. Plan-wise Review of Industrial Policy and Development: I to XI Plan - First Five Year Plan: 1951-52 to 1955-56; Second Five Year Plan: 1956-57 to 1960-61; Third Five Year Plan: 1961-62 to 1965-66; Annual Plans; Fourth Five Year Plan: 1969-70 to 1973-74; Fifth Five Year Plan: 1974-75 to 1978-79; Sixth Five Year Plan: 1980-81 to 1984-85; Seventh Five Year Plan: 1985-86 to 1989-90; Eighth Five Year Plan: 1992-93 to 1996-97; Ninth Five Year Plan: 1997-98 to 2001-02; Tenth Five Year Plan: 2002-03 to 2006-07; Eleventh Five Year Plan: 2007-08 to 2011-12.

4. Public Sector Enterprises - Objectives of Public Sector Enterprises; Organisation of Public Sector; Poor Performance and Rethinking; Industrial Policy Statement, 1991 on Public Sector; Public Sector Disinvestment Commission; Disinvestment/Privatisation in Action; Supreme Court Judgement, September 16, 2003; Public Sector at the State Level; Future of Public Sector.

5. Micro, Small, and Medium Enterprises (MSMEs) - Micro, Small and Medium Enterprises Development (MSMED) Act, 2006; Advantages of Micro, Small and Medium Enterprises (MSMEs); Social Face of MSMEs in India; Problems of MSMEs; Policy Measures to Help Small Industries; Recent Policy Initiatives for Promoting Small Industries; Small-Scale Industries in the 2006-2007 Union Budget; MSMEs and Globalisation; Sectoral Profiling of MSMEs; Conclusion.

6. Sources of Industrial Finance - Need for Industrial Finance; Sources of Industrial Finance; Development Financial Institutions (DFIs); All-India Financial Institutions (AIFIs); State Level Institutions; Development Finance Institutions (DFIs): The Changed Scenario; Conclusion.

7. Extent of Industrial Sickness - Causes of Industrial Sickness; Measures to Help Sick Industrial Units; Government Policy Regarding Nationalisation of Sick Industrial Units.

8. Tax Incentives for Industrialisation and Infrastructure Development - Meaning of Tax Incentives; Forms of Tax Incentives; Rationale for Tax Incentives; Problems Created by Tax Incentives; Alternatives to Tax Incentives; Tax Holiday Schemes in India; Justification for Tax Incentives for Infrastructure Development; Tax Incentives for Infrastructure Development in India.

9. Industrial Relations and Labour Laws - Industrial Relations: Post-Independence Trends; Industrial Disputes Act, 1947; Contract Labour; Second National Commission on Labour, 2002; Labour Reforms: A Touchy Issue; Conclusion.

10. Indian Industry and WTO - WTO: An Introduction; Non-Agricultural Market Access (NAMA); Non-tariff Barriers; Services; Singapore Issues; Anti-dumping and Subsidies Agreements; TRIPS and Public Health; Agreement on Textiles and Clothing (ATC); Textile Sector in the Post-Quota Era; Implications for India; Measures Taken by the Government.

11. Infrastructure Development: Issues and Policies - Meaning and Types of Infrastructure; Infrastructure and Economic Development; Traditional Approach to Infrastructure; Commercialisation of Infrastructure Services: The New Approach; Allocation of Risks: The Key Problem; Infrastructure Finance: Nature and Options; India Infrastructure Finance Company Limited (IIFCL); Recent Policy Announcements on Infrastructure; FDI in Infrastructure; Conclusion.

13. Transport Infrastructure and Services - Need for Integrated Transport System; Indian Railways; Roads and Road Transport; Shipping and Ports; Civil Aviation.

14. Communications and Information Technology - Telecommunications; IT and IT-enabled Services; Postal Services; Information and Broadcasting.

15. Special Economic Zones (SEZs) - Economics of SEZs; SEZs in India; Main Features of the SEZ Policy in India; Criteria for Approval; Conversion of EPZs into SEZs; Performance of SEZs in India; Apprehensions and Concerns; SEZs and National Security; Lessons from China; Conclusion.

16. Urban Infrastructure and Services - Degree of Urbanisation in India; Constitution (Seventy-fourth Amendment) Act, 1992; Features of Urban Infrastructure Services; Urban Housing; Urban Transport; National Urban Health Mission (NUHM); Safe Drinking Water; Sanitation Including Solid Waste Management; Jawaharlal Nehru National Urban Renewal Mission (JNNURM); Eleventh Five Year Plan (2007-12) on Urban Infrastructure; Financing of Urban Infrastructure; Cost Effectiveness; Institutional Structure; Conclusion.

17. Rural Infrastructure and Services - Constitutional Provisions; Rural Housing; Rural Electrification; Rural Water Supply; Rural Sanitation; National Rural Health Mission (NRHM); Rural Transport; Rural Telephony; Rural Infrastructure Development Fund (RIDF); Bharat Nirman Programme for Rural Infrastructure.

Appendix 1: Industrial Policy Resolution, 1956; Appendix 2: Statement on Industrial Policy, July 24, 1991; Appendix 3: New Industrial Policy and other Concessions in the North Eastern Region; Appendix 4: Industrial Infrastructure Upgradation Scheme; Appendix 5: Industrial Park Scheme, 2002; Appendix 6: Scheme for Integrated Development of Leather Sector; Appendix 7: Draft National Design Policy; Appendix 8: Scheme for Central Assistance to States for Developing Export Infrastructure and other Allied Activities; Appendix 9: Report on Indian Electronics Hardware Exports; Appendix 10: Anti-Dumping Laws and Procedures in India; Appendix 11: Industrial Policy Reforms in Selected States of India; Appendix 12: New Industrial Policy and other Concessions for the State of Sikkim; Appendix 13: New Industrial Policy and Other Concessions for the State of Jammu & Kashmir; Appendix 14: New Industrial Policy and other Concessions for the State of Uttaranchal and the State of Himachal Pradesh; Appendix 15: National Entrepreneurship Development Board (NEDB) Scheme: Guidelines; Appendix 16: Scheme of Micro Finance Programme; Appendix 17: Scheme of Fund for Regeneration of Traditional Industries (SFURTI); Appendix 18: Main Recommendations of the Task Forces on Direct and Indirect Taxes; Appendix 19: Ten Point Agenda Declared by Minister of Communications and Information Technology on May 24, 2006; Appendix 20: Cellular Mobile Telephone Service; Appendix 21: Very Small Aperture Terminal (VSAT); Appendix 22: Universal Service Obligation Fund (USOF)

    Dr. Anup Chatterjee did his M.A. (Economics) from Delhi School of Economics and Ph.D. from Faculty of Applied Social Sciences, University of Delhi. Dr. Chatterjee has 15 years of research experience and 30 years of teaching experience to post-graduate and undergraduate classes. He has been on the visiting faculty of Post-graduate Department of Business Economics, South Campus, University of Delhi, Indian Institute of Technology (IIT), New Delhi, Fore School of Management, New Delhi, and National Institute of Financial Management (Ministry of Finance, Government of India), Faridabad (Haryana). He is also a resource person of Indira Gandhi National Open University (IGNOU), New Delhi, for preparing reading material for both post-graduate and undergraduate students of economics. Dr. Chatterjee has published articles in Indian Journal of Canadian Studies. Presently, he is a Reader in the Department of Economics, A.R.S.D. College, University of Delhi.

    K. Narindar Jetli did his post-graduation from the University of Delhi. He worked for 30 years (1963-1993) with Indian Oil Corporation (IOC), a Fortune 500 company. At IOC, he served as a senior officer and worked in the public relations, operations, sales and marketing departments. Mr. Jetli is currently General Manager (HRD and Administration) with Jaquar & Co. Ltd. (an ISO 9001:2000 company), New Delhi. He was elected as member of Confederation of Indian Industry (CII), Delhi State Council for 2002-03. He has also delivered lectures at the Delhi School of Economics, University of Delhi, International School of Business, New Delhi, International School of Business and Media, Kolkata and Pune and Institute of Productivity and Management, Meerut. He is also on the panel for selecting students for admission in these management institutes. He has so far written 3 books and contributed numerous articles in journals and newspapers.