Need industrialization in India.
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Yeah we need industrialisation in india......Industrialization may be defined as a process in which change of series of strategical and systematic production take place. It means creation and growth of manufacturing units. For a developing country like India industrialization plays a key role for the economic development. Thus, from the Second Five Year Plan the Planning Commission has given huge emphasis on industrialization in India.
The reasons behind the need of industrialization are listed below:
(i) Increase in Per Capita Income:
The development of various industries leads to direct increase in production and productivity within the country. Industries create an environment where more manpower’s are utilized. Hence, the surplus labour from agriculture can easily absorb within the industries bring more income opportunities
All the industrially developed countries have high per capita income compared to the countries where industrial Nourishment is low. There is no doubt that industrial development gives rise to the per capita income of the economy
(ii) Rise in Capital Formation:
Industrial development is positively correlated with increase in capital formation. High level of investment is required for the establishment of industries. According to ‘Big Push’ theory, high level investment- injection within a country causes a suitable atmosphere for industrial growth which eventually rise to the economic growth of the country. In fact size of capital formation in both public and private sectors provides a stimulus for industrial growth or vice versa. In short, more industries lead to more capital formation or investment within the economy.
The reasons behind the need of industrialization are listed below:
(i) Increase in Per Capita Income:
The development of various industries leads to direct increase in production and productivity within the country. Industries create an environment where more manpower’s are utilized. Hence, the surplus labour from agriculture can easily absorb within the industries bring more income opportunities
All the industrially developed countries have high per capita income compared to the countries where industrial Nourishment is low. There is no doubt that industrial development gives rise to the per capita income of the economy
(ii) Rise in Capital Formation:
Industrial development is positively correlated with increase in capital formation. High level of investment is required for the establishment of industries. According to ‘Big Push’ theory, high level investment- injection within a country causes a suitable atmosphere for industrial growth which eventually rise to the economic growth of the country. In fact size of capital formation in both public and private sectors provides a stimulus for industrial growth or vice versa. In short, more industries lead to more capital formation or investment within the economy.
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