New Economic Policy in Changes and Choices on Small Scale Industry in Kanyakumari District

This paper focuses on the New Economic Policy adopted by the Government of India in 1991. Economic growth has surpassed previous records and shown a growth rate of above 8 percent. The New Economic Policy refers to economic liberalisation or relaxation of import tariffs, deregulation of markets or opening the markets to private and foreign players, and reduction of taxes to expand the economic wings of the country. Small scale industries are the lifeline of the economy, especially in developing countries like India. These industries are generally labour-intensive, and hence they play an important role in the creation of employment. The list of imports also includes all kinds of building material, fittings, furniture, home furnishings and electronic and hardware items, in addition to fabrics, apparel, yarn and thread, etc. This research will prove supportive.