Question

Which challenges are faced in the way of Industrialization? ​

Answer 1

Answer:

Explanation:

Poor Capital Formation: ...

Political Factors: ...

Lack of Infrastructural Facilities: ...

Poor Performance of the Agricultural Sector: ...

Gaps between Targets and Achievements: ...

Dearth of Skilled and Efficient Personnel: ...

Elite Oriented Consumption: ...

Concentration of Wealth:

Answer 2

Lack of government support, entrepreneurial initiative, limited availability of resources are the biggest challenges in the way of industrialization.

Explanation:

• Lack of government support is one of the biggest hurdles in the face of industrialization because when the governments do not support industry, they are unable to flourish and even the running industries have to be shut down.
• Moreover, lack of entrepreneurial opportunities and initiative in the youngsters result in stagnation due to which no new industries are opened.
• The limited availability of resources also restricts the number of industries that can be efficiently supported in an economy.