Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19904 Marks
Question
Explain any four importance of industries for a developing country like India.
✓
Answer
The importance attached to industries for a developing country like India is large because of the following reasons:
Most of the industries in India (small scale and cottage) are labour intensive, so they generate more employment, per unit of production.
The above industries make use of local resources and thus utilize them fully.
Several important industries (large scale industries) had to be developed very rapidly to ensure economic development. But these required a lot of capital or investment and had a longer gestation period.
In order to prevent the concentration of economic power in the hands of the few (private sector), it was essential that public sector be given a leading role in the industrial development of the country.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.