Review of Management

CURRENT criticisms of industrial licensing have chosen such diverse targets that they might easily lead away from the main sights set for licensing. Generally, they have stressed the need for liberalisation and cutting of 'delays'; concessions for entering backward areas; easing licensing for projects below a certain size or not requiring significant foreign exchange; freeing expansion which is not substantial or is in non-core sectors; making entry easier for big houses to give rein to growth, etc. The most pointed expression of the approach underlying all these came recently in the rejoinder that industrial licensing needed overhauling because it had Tailed to take market forces into account'.