Geography (NTSE/Olympiad)  

2. Manufacturing Industries

Importance Of Industrial Development

Importance Of Industrial Development
Industrialisation play a vital role in the economic development of a country :
1. Utilisation of Natural Resources :
Utilisation of huge volume of natural resources has become possible with the development of industries in the country.
2. Balanced Sectoral Development :
Growth of Industrialisation in the country can attain balanced sectoral development and it can reduce the too much dependence of the economy on the agricultural sector.
3. Enhanced Capital Formation :
Increasing volume of investment in industries has led to enhancement in the rate of capital formation in the country.
4. Increase in National Income & Foreign Exchange :
Organised and unorganised industries are jointly contributing a good portion of the total national income of the country.
5. Increase in Job Opportunities :
It increase the job opportunities for a large section of the populatioin of the country.

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