Which of the following is the prime objective of an industrial policy for any country?
A) to secure a leading global role for selected domestic industries
B) to promote and encourage the import of goods and services
C) to secure the interests of migrant workers
D) to encourage specialization of labor
E) to ensure a high level of competition for domestic firms

Question

Quizplus · Accepted Answer

The prime objective of an industrial policy for any country is to secure a leading global role for selected domestic industries. This is done by providing support and protection to these industries, promoting investment and innovation, and enhancing their competitiveness both domestically and internationally. The other options, such as promoting imports, securing the interests of migrant workers, encouraging specialization of labor, and ensuring high levels of competition, may be secondary objectives but are not the primary objective of industrial policy.

Which of the Following Is the Prime Objective of an Industrial