Industrial policy refers to government strategies and actions aimed at supporting and developing specific sectors of the economy. This can include measures like subsidies, tax incentives, research and development funding, and trade regulations. The goal is often to boost national competitiveness, foster innovation, protect strategic industries, and create jobs. Industrial policy can shape the direction of economic growth by prioritizing certain industries considered vital for national security, technological advancement, or economic stability. While it can drive growth and innovation, critics argue it may distort markets or favor certain companies over others.