Role of private sector vs public sector since independence in bussines
Answers
Explanation:
Industrial Development:
During the pre-independence period, the private sector has played a responsible role in Indian economy where it set up and expanded cotton and jute textiles, sugar, paper, edible oil, tea etc. After independence, the national government gave sufficient stress on industrialization.
The private sector also made a serious attempt to invest on industries producing wide range of intermediate products which include machine tools, chemicals, paints, plastic, ferrous and non-ferrous metals, automobiles, electronics and electrical goods etc. In this way, the private sector has developed the consumer goods industry, producing both durables and non-durables and became self- sufficient in the production of different types of consumer goods.