India's Industrial Development

Industrial Development Since Independence. 1. The British regarded India as source of put up of raw materials and market for British manufacturers and hence, at the time of Independence, India was industrially an underdeveloped economy. 2. The poor industrial sector was domintaed by consumer goods industries resembling cotton textile, jute, sugar, salt, paper, soap, etc. 3. Industries producing intermediate goods like steel, coal, cement, alcohol, power, non-ferrous metals were poorly established in terms of productive capacity. 4. Capital goods industries hardly do their presence felt. 5. In the post independence period, India embarked upon industrial education under the five year plans GROWTH IN PRE enlighten PERIOD (1947-1990) 6. The study changes during the pre-reform period can be analyse by diving the period into three somas: A. sort 1 (1951-1965) Establishing Industrial Base During the first five year plan, which was based on Harrod Domars model, only 2.8 percent of the total investment was made in industry and Minerals as the agricultural sector was hit hardest by the partition off of India and needed more investment. Industries like Indian Telephones and Indian Cables were perplex up. Penicillin factories were established.

During the routine five year plan, which was based on Mahalnobis model, a whooping 20.1% of the total investment was made in Industry and Minerals. The second five year plan focused on establishing staple and capital goods industries on a large scale. Three major steel plans of one million tonnes capacity were started at Bhillai, Durgapur and Rourkela. The troika five year plan focused on working out of heavy industries and also invested 20.1% of the total investment in Industry and Minerals. The average growth rate of industrial SECTOR during this phase was more than 7% per annum and of basic and heavy(capital goods) industries was more than 10% per annum. B. Phase 2 (1966-1974) Slow growth The average growth of industrial... If you want to unhorse a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.