Business Standard

A monster from the past

The global turn to industrial policy defies history and logic


Mihir S Sharma
Over the past few years, a monster long thought vanquished has once again reared its ugly head: Industrial policy. The notion that a government can play favourites across the various sectors of the economy has never of course gone completely out of style. What matters is the scale of this intervention, its purpose, and its chosen instruments. On each of these, there has been a reversion to past levels, which is deeply disturbing for anyone with even a rudimentary knowledge of economic history. It is particularly troubling when industrial policy spills over into trade policy and causes the erection of
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Mar 26 2023 | 9:48 PM IST

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