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The article provides an overview of the industrial policy of India and its evolution over time. It highlights the problems faced by the industrial sector, including sickness, and the measures taken by the government to address these issues.The liberalized margin money scheme introduced in 1987 aims to reduce sickness in the small-scale sector by providing state governments with 50% of the amount required to revive sick units, with a maximum limit of assistance increased from Rs. 20,000 to Rs. 50,000 per unit. The Industrial Reconstruction Bank of India (IRBI) was set up in 1971 to rehabilitate sick units by restructuring management, providing technical and management guidance, and monitoring progress.The article also discusses the concept of industrial policy, which covers all procedures, principles, and policies that govern industrial undertakings in a country and shape the patterns of industrialization. India was denied the benefit of a sound and well-thought-out industrial policy during British rule, but after independence, the government announced its first industrial policy in April 1948. Subsequent changes and developments took place in the country, leading to revisions and updates of the industrial policy from time to time.The article also highlights the problem of industrial sickness in India, affecting a large number of industrial units in both the small-scale and large-scale sectors. It identifies internal and external causes for industrial sickness and discusses its consequences on the 'health' of the industrial sector and the economy as a whole.Finally, the article concludes that while some initiatives have been taken by the government to address the problem of industrial sickness, more needs to be done to promote sustainable growth in the industrial sector.