Module II
Module II
Notes
Definition of Industrialization
Causes of Industrialization:
Consequences of Industrialization:
Industrialization has led to both positive and negative effects:
Positive Consequences:
Negative Consequences:
Industrialization in India
Pre-Independence Period:
Post-Independence Industrialization:
Key Features:
1. Division of Industries: Industries were classified into three
categories, promoting state control over key sectors.
2. Public Sector Growth: Strengthening public sector
industries for national development.
3. Reduction of Income Inequality: Promotion of economic
equality and balanced regional development.
4. Small-Scale Industry Promotion: Encouragement of small
and cottage industries to generate employment.
5. Industrial Licensing: Industries required licenses for
establishment and operation to ensure planned growth.
6. Foreign Investment Control: Restriction on foreign capital
to protect domestic industries.
Conclusion:
Industrialization is a crucial process for economic growth and
modernization. While it has transformed economies and
improved living standards, challenges such as environmental
damage, labor exploitation, and social inequalities persist.
India’s industrial policies have played a vital role in shaping
its economy, with continuous reforms needed to balance
growth with sustainability. The future of industrialization lies
in sustainable and technology-driven industrial growth that
benefits all sections of society.