Government policies are the key factor for establishment of an industry. Explain with reasons.
Answers
Explanation:
every government, throughout history, has been practicing some form of industrial policy—public policies aimed at stimulating industrial growth and, ultimately, the transformation of the economy from low-productivity agriculture to high-productivity manufacturing and services. Unfortunately, the results have been disappointing, especially in some of the poorest regions of the world. India, despite rapid overall growth, has seen little employment growthin the formal manufacturing sector. In sub-Saharan Africa, the ratio of manufacturing value added to GDP is lower today than it was in the 1970s. And in the Middle East and North Africa (MENA), almost all the job growth is in tiny (one-person), young firms. In Tunisia, for example, these startups account for 95 percent of job growth. But these firms rarely grow. Ten years later, 95 percent of them are either still one-person firms or have gone out of business.