Need of industrialisation in indian, the latest trends and its impact on india economy. I need this for my geography project work class 10 isce
Answers
Answer:
A write up on the Need for industrialization in India, its latest trends and impact on economy of India:
Explanation:
India is predominantly a agricultural country and the number of industries are less when compared to countries like USA and China. There is an urgent need for industrialization in India. The following points justify the need for industrialization in India.
1. The population of India is very high and all cannot depend on agriculture for employment.
2. Indian Government has to spend more on the welfare of the people and industrialization will help in generating more revenue.
3. India has to compete with the growth parameters of developed countries.
4. Industrialization will help to improve the standard of living of the people and reduce poverty.
Latest trends of industrialization in India and its impact on India’s economy:
Compared to few years ago there is more industrialization in India currently. Many large scale ad small scale industries have been started ad they are providing employment to the people and thereby improving the standard of living. The government is conducting investors summit and encouraging investments from local and abroad.
The above factors have led to a healthy economic condition. Employment opportunities have increased the purchasing power of the people and the number of people living below the poverty lie has decreased drastically due to increased economic activities.
I hope this information helps :)