ABSTRACT

Each state evolves a specific strategy of organizing its resources. India followed a mixed economy model for first forty years of independence in which key industries will function in public sector and some scope is left for private initiative. It was followed when resources were scarce and private sector was ill equipped to undertake large industries. It has shifted to Liberalization from 1991 onwards where the objective was to undertake production activity in private sector. It was based on logic that free competition is the ideal framework in which each firm will be able to offer maximum efficiency and state intervention would result in distortions in free market. The present study aims to explore the specific design of industrial development undertaken in Assam during liberalization era. Assam is specifically characterized by low capital formation, higher levels of unemployment, rich natural resources and the presence of capital from outside the state.

Key words: Industrial Policy, Industrialisation, Liberalisation