Shaping tomorrow's industry: The new era of industrial policy

Series 6 articles

Industrial policy has resurged in importance on government agendas, propelled by global events like the COVID-19 pandemic and megatrends such as Industry 4.0 and climate change. The pandemic laid bare supply chain vulnerabilities, underscoring the pivotal role of industrial development in economic growth and addressing climate change. As nations strive to fortify economic resilience and competitive edges amidst financial, climate, and health crises, understanding global industrial policies becomes increasingly critical.

The Industrial Development Report 2024 contributes to this discussion by providing a valuable guide for developing countries in forging impactful and future-oriented industrial policy. It calls for bold actions to channel investments into sustainable industrial development to accelerate progress towards the achievement of the Sustainable Development Goals (SDGs). The report describes the current industrial policy landscape in different regions of the world and provides actionable strategies that focus on digitalization, job creation and industrial decarbonization, guiding these regions towards sustainable and inclusive industrial growth.