Explain the role of large scale industries in industrialisation of India.
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The Role of Industrialization in the economic development of India!
Industrialization refers to a process of change in the technology used to produce goods and service.
According to Wilbert Emoore and G. R. Madan, it is a much broader process of economic development which has in view the integrated development of all other sectors, i.e. agriculture, power, transport and other service
Industrialization has a major role to play in the economic development of the under developed countries.
The role of industrializtion in the development of country can be analysed as follows:
i. Increase in per capita income.
ii. Growth in international trade
iii. High level of investment
iv. Generation of employment
v. Meets the requirements of people
i. Growth of Infra structure:
Rapid industrial growth has resulted in the expansion of infrastructural facilities. The development of modern industries has stimulated the growth of banking, insurance, commerce, shipping, air services etc.
ii. Growth of science and technology:
Thus our economy is based on industrialization to a large extent.
Industrial Policy before 1991:
India started her quest for industrial development after independence. The industrial policy resolution of 1948 marked the beginning of the evolution of Industrial policy.
Features of industrial policy 1948:
i. The industrial policy resolution of 1948 contemplated a mixed economy reserving a sphere for both public and private sector.
ii. The industries were divided into four broad categories viz:
a. Defence industries and control of atomic energy. The ownership and management of these industries was the exclusive monopoly of the Central Government.
b. Coal, Iron and steel, ship building, telephone and telegraphs were to be owned by the state.
c. Basic industries—Fertilizers electron chemicals, non- ferrous metals woollentextiles, minerals etc. were subject to the regulation of Central Government.
d. Remaining industries other than the above mentioned were open to the private sector.
Industrial Policy 1956:
After 1948 significant developments took place in India. Parliament accepted the socialist pattern of economy.
It facilitated the fresh statement of industrial policy.
Provisions of 1956 Policy:
i. New classification of industries: Schedule A industries: Exclusive responsibility of the state.
Schedule B: State owned industries, but the private enterprises could supplement the effort of the state.
Schedule C: All the remaining industries which could be owned by private sector.
ii. Fair and non-discriminatory treatment of Private sector.
iii. Encouragement to village and small scale industries.
iv. Removing regional disparities.
v. Provision of amenities for labour.
Industrial Policy 1977:
In 1977 the Congress Party was thrown out and Janata Party assumed power, new Industrial Policy was introduced to make radical changes in the existing policy.
Provisions of 1977 Industrial Policy:
i. Development of small scale sector. Small scale sector was classified into three categories Viz:
a. Cottage and household industries.
b. Tiny sector with less than 1 lakh investment.
c. Small scale sectors with investment upto 10 lakhs.
ii. District industrial centres were to setup in each district to support small scale and cottage industries.
iii. Programmes to enlarge the areas of operation of Khadi and village industries.
iv. Special arrangements for the application of technology to improve the productivity of small and village industries.
v. Large scale sectors should devise programme for small scale and village industries.
vi. Approach towards sick units should be selective and public funds should be pumped into sick units.
vii. Framing policies encouraging worker’s participation in management.
Industrial policy 1980:
It was announced by Congress (I). The objective of this policy was to strengthen the economic infrastructure Features:
i. Socio-economic objectives:
a. Optimum utilisation of installed capacity.
b. Maximising production
c. Higher productivity
d. Higher employment generation
e. Correction of regional imbalance
f. Preferential treatment to agro-based industries.
g. Promoting economic federalism.
ii. Revival of the economy
iii. Effective operational management of the Public sector.
iv. Integrating industrial development in the private sector by promoting the concept of economic federalism.
v. Promotion of industries in rural areas.
vi. Removal of regional imbalances.
vii. Industrial sickness and state policy.
The Industrial policy stated that industrial units found guilty of mismanagement leading to sickness would be dealt firmly. All the above industrial policies recognised the need for securing participation of foreign capital and enterprise. But there was no encouragement for foreign ownership and control. These policies could not meet the requirements of liberalised economy and foreign investments. Hence the new policy was framed in 1991
Industrialization refers to a process of change in the technology used to produce goods and service.
According to Wilbert Emoore and G. R. Madan, it is a much broader process of economic development which has in view the integrated development of all other sectors, i.e. agriculture, power, transport and other service
Industrialization has a major role to play in the economic development of the under developed countries.
The role of industrializtion in the development of country can be analysed as follows:
i. Increase in per capita income.
ii. Growth in international trade
iii. High level of investment
iv. Generation of employment
v. Meets the requirements of people
i. Growth of Infra structure:
Rapid industrial growth has resulted in the expansion of infrastructural facilities. The development of modern industries has stimulated the growth of banking, insurance, commerce, shipping, air services etc.
ii. Growth of science and technology:
Thus our economy is based on industrialization to a large extent.
Industrial Policy before 1991:
India started her quest for industrial development after independence. The industrial policy resolution of 1948 marked the beginning of the evolution of Industrial policy.
Features of industrial policy 1948:
i. The industrial policy resolution of 1948 contemplated a mixed economy reserving a sphere for both public and private sector.
ii. The industries were divided into four broad categories viz:
a. Defence industries and control of atomic energy. The ownership and management of these industries was the exclusive monopoly of the Central Government.
b. Coal, Iron and steel, ship building, telephone and telegraphs were to be owned by the state.
c. Basic industries—Fertilizers electron chemicals, non- ferrous metals woollentextiles, minerals etc. were subject to the regulation of Central Government.
d. Remaining industries other than the above mentioned were open to the private sector.
Industrial Policy 1956:
After 1948 significant developments took place in India. Parliament accepted the socialist pattern of economy.
It facilitated the fresh statement of industrial policy.
Provisions of 1956 Policy:
i. New classification of industries: Schedule A industries: Exclusive responsibility of the state.
Schedule B: State owned industries, but the private enterprises could supplement the effort of the state.
Schedule C: All the remaining industries which could be owned by private sector.
ii. Fair and non-discriminatory treatment of Private sector.
iii. Encouragement to village and small scale industries.
iv. Removing regional disparities.
v. Provision of amenities for labour.
Industrial Policy 1977:
In 1977 the Congress Party was thrown out and Janata Party assumed power, new Industrial Policy was introduced to make radical changes in the existing policy.
Provisions of 1977 Industrial Policy:
i. Development of small scale sector. Small scale sector was classified into three categories Viz:
a. Cottage and household industries.
b. Tiny sector with less than 1 lakh investment.
c. Small scale sectors with investment upto 10 lakhs.
ii. District industrial centres were to setup in each district to support small scale and cottage industries.
iii. Programmes to enlarge the areas of operation of Khadi and village industries.
iv. Special arrangements for the application of technology to improve the productivity of small and village industries.
v. Large scale sectors should devise programme for small scale and village industries.
vi. Approach towards sick units should be selective and public funds should be pumped into sick units.
vii. Framing policies encouraging worker’s participation in management.
Industrial policy 1980:
It was announced by Congress (I). The objective of this policy was to strengthen the economic infrastructure Features:
i. Socio-economic objectives:
a. Optimum utilisation of installed capacity.
b. Maximising production
c. Higher productivity
d. Higher employment generation
e. Correction of regional imbalance
f. Preferential treatment to agro-based industries.
g. Promoting economic federalism.
ii. Revival of the economy
iii. Effective operational management of the Public sector.
iv. Integrating industrial development in the private sector by promoting the concept of economic federalism.
v. Promotion of industries in rural areas.
vi. Removal of regional imbalances.
vii. Industrial sickness and state policy.
The Industrial policy stated that industrial units found guilty of mismanagement leading to sickness would be dealt firmly. All the above industrial policies recognised the need for securing participation of foreign capital and enterprise. But there was no encouragement for foreign ownership and control. These policies could not meet the requirements of liberalised economy and foreign investments. Hence the new policy was framed in 1991
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Large scale industries are the ones which use machinery, gives employment and has the application of regulatory matters.
Explanation:
- Large scale industries are responsible for increasing the capital of the nation.
- They are responsible for generating funds for research and development.
- The economy of developing countries such as India heavily relies on the existence of industries for the financial growth, generation of foreign capital, availability of employment and job opportunities to a large number of unskilled, unemployed Indians.
- This helps in the development and industrialization of a country.
- Examples of large scale industries are the jute industry and tea industry.
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