Industrialisation:
Industrialisation is a process. It means making rapid increase in industrial production by increasing investment and infrastructure facilities in the economy. The process of industrialisation is associated with mechanisation and modernisation.
Importance: Importance of industrial sector in India is due to the following reasons:
- It increases contribution in National Income: In 2013-14, industrial sector contributed 27 % (at constant prices) in National Income.
- It increases employment: In 2011-12, 24.3 % labourers were employed in industries. Small-scale industries used labour intensive production technique which substantially increased employment.
- It increases export income and earn foreign exchange: In 2013 – 14, industries 2 earned about – share of export income.
- It does balance economic development: It makes speedy and balanced development of economy by establishing public sector in less developed or backward areas.
- It helps in modernisation of agricult are: Industries can provide technology to help modernisation of agriculture.
- It strengthens economic structure: By producing iron, cement, machines, vehicles, safety instruments it reduces dependence on other nations and make India much stronger economically.
- It changes social structure: Due to industrialization new industrial culture emerged which change social structure and inspire economic development.
