Question

why is Industrial Development important??

Answer 1

Industrialization plays a vital role in theeconomic development of underdeveloped countries. ... For this reason, it is pursuing policies that support privatization and deregulation of the economy. Industry plays a complex role in economic development, but these are some of its most important effects.

Answer 2

Industrialization plays a vital role in the economic development of underdeveloped countries. As the historical record shows, the developed countries of the world broke the vicious cycle of poverty by industrializing, rather than focusing on agricultural or the production of national resources.  Currently, Pakistan, as a developing country, wants to achieve a higher standard of living for its people. For this reason, it is pursuing policies that support privatization and deregulation of the economy.  Industry plays a complex role in economic development, but these are some of its most important effects.  Increase in National Income  Higher Standard of Living  Economic stability   Improvement in Balance of Payments  And many more..