Role of industrilization in india essay

Over the period of the last twenty years and particularly so in the last ten years, it has become the fourth largest foreign exchange earner in the country.

industrialization essay pdf

Under the new industrial policy, the entire industry has been delicenced. The establishment and fast expansion of such industries as steel, cement, engineering, petroleum, etc. Construction machinery and equipment for irrigation projects, diesel engines, pumps and tractors for agriculture, vehicles, etc.

the role of industry

Leather Industry: Indian leather industry is spread over the organised as well as unorganised sectors. Increased employment opportunities.

Role of industrilization in india essay

In the storage battery industry, some new units are coming up. Jute: The jute industry in the country is traditionally export- oriented. Words: , Paragraphs: 32, Pages: 4 Publication date: April 03, Sorry, but copying text is forbidden on this website! The Government disinvested around one per cent of its equity out of the total paid-up capital of Rs. During this period, the growth rate has been higher than the long-term trend rate, and an accelerating one. A nation which depends upon the production and export of raw material alone cannot achieve a rapid rate of economic growth. They account for more than 50 per cent of the total installed capacity and production. Overview of Indian industries: Since many changes have taken place in Indian industrial scenario. He relies mainly on figures derived from Walter Nash and Albert H. The export orientation and import substitution effects of industrialization help in the improvement of balance of payments.

Thus, despite some deviations, the over-all trend can be described as one of reasonably high growth. Higher standard of living. This has enhanced the capabilities of the country not only to operate highly complex and sophisticated industrial enterprises, but also for their planning, design and construction.

Rapid industrialization in india

The industry uses primarily indigenous natural resources with little dependence on imported resources. The employment in silk sector during is anticipated to be 61 lakh persons as against 61 lakh persons in This is clear from the several changes that have taken place in industrial development. Other proposals which do not conform to the guide lines for automatic approval are considered by foreign investment promotion Board FIPBJ. In the storage battery industry, some new units are coming up. The technology and design of power transformers manufacture in the country are comparable with the international standards Indigenous industry is technology sufficient in transmission system up to KV, reactive compensation system up to KV and is in the process of indigenisation of HVDC technology and development of KV class equipments. Even in industries open to the private sector, establishment of new units and expansion of the existing units was regulated by licensing. Liberalization has given an enormous boost to private investment in the industrial sector. In order to further increase production and generate additional employment opportunities in the handloom sector, scheme was introduced during to develop 3, handloom development centres and quality dyeing units which benefited 30 lakh weavers.

On export front, automobile component sector registered a growth of 19 per cent during Long Retrogression: The fall in the growth rate over a long period of over a decade or so following the mids is a matter of concern. The resolution not only defined the broad contours of the policy; it delineated the role of the state in industrial development both as an entrepreneur and as an authority.

Models of industrialization

As against this, the demand for the import of manufactured goods by underdeveloped countries is very intense. The growth rate of intermediate goods declined from 6. The industry is delicensed subject to the locational angle. Impressive Growth: The growth rate of industrial production has been satisfactory, if not very satisfactory. Imports of paper and paper products have been growing over the years. The restrictive policies resulted in slow growth of the industry and economy and lack of competition causing lack of choice, high prices, poor quality, lack of innovation and disregard for the consumer Now only six industries are reserved for the public sector and even in some of these industries, selective entry of the private sector is allowed. This is clear from the large developments made in the field of basic and capital goods industries. Second, there are significant advances in the fields of technology and managerial skills. During the Third Five Year Plan, emphasis was laid on the expansion of the three public sector plants and preparation of plants to set up more steel plants to create additional steel production capacity.
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Role of Industrialization in the Economic Development of India