Abstract: Policies are framed to provide direction to obtain an end. The Industrial Policies of India were also framed to meet the challenges as an end and to give direction to obtain economic development and growth through industrialization after independence at the latter stage. The present paper highlights the changing face of India’s Industrial Policies. The evolution of India’s industrial policies can be seen by dividing the entire study into three phases namely: - first, Industrial Policies of India prior to Independence; second, Industrial Policies of India after Independence up to 1990 and; third, Industrial Policy of 1991 and thereafter policies. In the first phase an attempt is made to understand the industrial policy pursued by the British rulers. In second phase it is discussed that how India pursued and modified industrial policies which could put India on the road to progress. In the third phase how developing India gave new direction to industrial activities through New Industrial Policy and its following Industrial Policies which could cope up with rest of the world economies under the banner of LPG (Liberalization, Privatization and Globalization) is discussed.