Tag Archive | industry

News for November 29, 2015


Important News from The Hindu:

            [Important for: IP, IR, Business, Economy]

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Industry Vs. Agriculture: Prime Moving Force Debate


Soon after the independence, the Indian government selected industry to be the prime moving force of the Indian development. However, there was a great debate over this choice, as agriculture was thought to be more suitable for the role of the prime moving force in India.

The selection of industry as the prime moving force was also questioned as:

  1. There was almost an absence of infrastructure sector, like- power, transport, and communication, in India;

  2. There was also a negligible presence of infrastructure industries, like Iron & Steel, Cement, Coal, Crude Oil, Oil Refinery and Electricity;

  3. Lack of investible capital;

  4. Absence of required technology to support industrialization. There was also no R&D in India;

  5. Lack of skilled manpower;

  6. absence of entrepreneurship among the Indian masses;

  7. Absence of the market for the industrial goods.

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