Question

Discuss the role of the Indian state in promoting industrialisation after 1947.

Answer 1

India had been laying greater emphasis on agriculture, ever since it became independent in 1947. Successive Five Year Plans laid more stress on agriculture and allocated funds accordingly. However, some industries did come up in the public sector and the licence-permit-raj ensured that a favoured few industrial families were allowed to expand. The situation changed dramatically in 1991, when the Government declared a liberalised economic policy.
The benefit of an open economy has been anybody, including foreigners, can set up new and modern units in the country. In the past 25 years, India has progressed significantly in its mission of industrialisation