industrial strategy

Industrial strategy refers to a government's plan to enhance the competitiveness and productivity of its industries. It encompasses policies aimed at promoting innovation, supporting key sectors, and improving infrastructure to drive economic growth. By focusing on sectors such as manufacturing, technology, and services, industrial strategy seeks to create jobs, attract investment, and ensure sustainable development. It often involves collaboration between the government, businesses, and educational institutions to align skills with industry needs and address challenges like globalization and climate change. Ultimately, a well-defined industrial strategy aims to shape a country's economic future and improve the standard of living for its citizens.