Despite mineral rich India lacks in Industrial Development comment
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The reasons are:
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India being geographically rich in minerals has major mineral resources like copper, gold, iron ore, lead-zinc, chromium etc. Still, there are obstacles in the growth of industrial development like the control of monopolies, production of luxury goods and agricultural development, etc.
As India is in favor of the private sector in the private-public sector partnership and many of the government enterprises were handed over to the private entrepreneurs and industrialists which lead to political problems and poor capital formation. Also, factors like the poor performance of the agricultural sector and lack of infrastructural facilities are reasons.
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The reasons are given in the Above pic
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