International Journal of Humanities and Social Science Research

International Journal of Humanities and Social Science Research


International Journal of Humanities and Social Science Research
International Journal of Humanities and Social Science Research
Vol. 5, Issue 6 (2019)

Industrialisation and economic development


Dr. M Nazeeruddin

Industry is a branch of trade or manufacturing activity which is generally concerned with the production, of goods for market. Industrial activity, invariably, includes mechanical invention and technological innovation that help maximum production with minimum expenditure. Industrialisation in a developing country has come an inseparable part of development process, planners and policy makers view it as most acceptable instrument to generate dynamism in growth process. The main objective of any industrialisation programme is to raise the standard of living of the people. With the growth of manufacturing industries the villages have experienced changes of a far-reaching nature. Once the momentum increases for more and more accumulation of capital, it is possible to break the vicious circle of poverty. A suitable combination of labour intensive and capital intensive techniques are to be incorporated in the process of industrialization in order to raise the productivity of factors of production.
Pages : 26-27