Briefly discuss the industrial development pattern on the eve of Independence.
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The industrial development pattern on the eve of Independence was characterised by the following elements:
- The public sector enterprises such as railways, power, post and telegraph were confined to areas which would enlarge the size of market for British products in India.
- The industrial growth was lopsided, in the sense that consumer goods industry was not adequately supported by the capital goods industry.
- No priority was given for the development of basic and heavy industries. Tata Iron and Steel Corporation (TISCO) established in 1907, was the only basic industry in India.
- The pattern of development in the industrial sector was lopsided and was dominated by the presence of small industries (31%) and large industries (43%), but very few medium industries.
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