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The factors which are responsible for the slowdown of industrial development in India are mentioned below-
Main causes (problems and obstacles) of Industrial backwardness:
(i) Poor
rate of capital formation: Poor rate capital formation is consider as one of
the major constant which has been responsible for slow down rate of industrial growth
in India.
(ii) Lack of
credit facilities: Credit facilities in India are not easy. The problem is more
complicated particularly for the micro and small scale sectors.
(iii) Political
factors: During the periods of pre-independence, industrial Policy followed by
British rulers were not at all favourable for the interest of the country. Thus
India remained a primary producing country during 200 years of the British rule
which ultimately retarded the industrial development of the country in its
early period.
(v) Lack of
trained workers: In the absence of a good number of technological personnel,
there has always been depending on foreign country. As a result, the industrial
development is falling several problems.
(vi) Poor
performance of agriculture sector: Industrial development is very dependent on
the performance of the agricultural sector. Thus poor performance of the agricultural
sector resulting from natural factor is also because agriculture sector
provides not only raw material and goods but also generates demand for the
goods produced by the industrial sector. But the performance of agriculture on
our country is very poor.
(vii) Concentration
of wealth: The pattern of industrialization in the country has been resulting
in concentration of economic power in the hands of few large industrial houses
and thus failed to achieve the objective of planning in reducing concentration
of wealth and economic power.
(viii) Poor
performance of the public sector: In spite of attaining a substantial expansion
during the planning period, the performance of the public sector enterprises
remained also along very poor. A good number of such enterprises are incurring
losses regularly due to its faulty pricing policy and lack of proper
management. Thus it is a constraint for the industrial development of India.
(ix) Regional
imbalance: Concentration of industrial development into some few states has
raised another problem of imbalances in industrial development of the country.
Western region comprising Maharashtra and Gujarat attained maximum industrial
development whereas the plight of the poor states are continuously being
neglected in the process of industrialization of the country although a huge
investment in the public sector has been made in the backward states but the
‘trickling’ down effects of such investment were not visible.
(x) Industrial sickness: Another peculiar problem faced by the industrial sector of the country is its growing sickness due to bad and inefficient management. The patter of industrial development has not been sufficiently guided by cost considerations. Adequate attention has also not been given to improvements in technology and quality of products.
Also asked Same Questions-
Explain the problem and obstacles to industrial development in India?
or
What are the causes of slow industrial industrialization?
or
Analysis the recent slow down in industrial growth in India and factors responsible for it.
Conclusion
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Nice information
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