Home Preparation for National Talent Search Examination (NTSE)/ Olympiad
Chapter : 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.