Question

What are the phases of Industrial development in India?

Answer 1

1. Industrial development during 1950 – 1965:

1. During this phase, a majority of consumer goods were produced in India.
2. As a result, this phase witnessed a strong acceleration in the growth rate of production.

2. Industrial development during 1965 – 1980:

1. It mostly focused on the development of the capital goods sector, the consumer goods sector was neglected.
2. So this period is marked as the period of structural retrogression.

3. Industrial development during 1980 – 1991:
This period witnessed quite a healthy industrial growth.

4. Industrial development post-1991 Reforms:

1. The year 1991 was a new era of economic liberalization.
2. India took a major decision to improve the performance of the industrial sector.
3. The new policy welcomes foreign investments.