This paper documents the proceedings of "The Second Roundtable Discussion (RTD 2) on Progressive Industrial Policy (PIP)," which explores alternative economic frameworks for sustainable and inclusive industrialization in the Philippines. The study examines the shift from traditional neoliberal approaches toward a "progressive" model that prioritizes social equity, environmental sustainability, and the strengthening of domestic productive capacities. Key discussions center on the role of the state in directing industrial growth, the importance of fostering linkages between small-scale producers and larger industries, and the integration of labor rights into industrial strategy. By synthesizing insights from economists, labor leaders, and policy experts, the proceedings advocate for a developmental state that can navigate global market pressures while ensuring that industrial gains are distributed equitably. Ultimately, the research highlights PIP as a critical tool for addressing structural inequality and building a resilient national economy capable of long-term transformation.