History Essay

8709 WordsAug 21, 201435 Pages
Industry is the production of a good or service within an economy.[1] Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies. This occurred through many successive rapid advances in technology, such as the production of steel and coal. Need for rapid industrialization Utilisation of Available Resources Adequate environment is present in India for industrialization. Firstly, India is rich in different natural resources like iron-ore, manganese, bauxite, coal and mica etc. Secondly, raw materials like jute, cotton, oilseeds, sugarcane and tobacco leaves are plenty produced in India. Thirdly, forest resources are more which give us paper, matches and sports materials. Industrialization alone can be able to utilize large mineral resources, agricultural and forest resources. Overcoming the Problem of Unemployment The problem of unemployment is acute in India. Due to rapid growth of population, every year lakhs of people enter into the labour market. On the other hand, there is no scope for alternative employment opportunities in agricultural sector to employ the excess labour in agricultural sector and unemployed labourers rapid industrialization is necessary. Modernization of Agriculture Modernization of agriculture is necessary for increasing the productivity of land, tractor, pump set, chemicals, fertilizers, insecticides and other developed machineries are necessary to modernize agriculture. It- means modernization of agriculture is possible only with the help of the development of fertilizers and agricultural machineries industries. Self-Sufficiency It is not advisable for a country to depend upon foreign countries for industrial products. We have to pay in terms foreign currencies if we purchase industrial products from

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