what is foreign partition in joint sector enterprises ?
Answers
Joint sector industries are owned jointly by the government and private individuals who have contributed to the capital. In joint sector, both public sector and private sector join hands to establish new enterprise
The joint sector would include units in which both public and private investments have taken place and where the state takes an active part in direction and control.
According to JRD Tata a joint sector enterprise is intended to form a partnership between the private sector and the Govt. in which the govt. participation of the capital will not be less than 26 p.c., the routine management will be normally in the hands of the private sector partner and control and supervision will be duly exercised by a governing board on which Government is adequately represented.
War-time industries were assured of continued protection from foreign competition and .... (vi) Joint sector, wherein private enterprise will have financial assistance of public sector