Growth and Structure of Industries

One remarkable feature of the economic development that has taken place in India during the post-independence period has been the rapid industrialisation in the country which has lifted India from an insignificant position on the eye of independence to a position of one among the top ten or fifteen highly industrialised countries in the world at present.

64 years after independence, India has come a long way on her journey towards the goal of industrialisation. She has developed basic and heavy industries and has acquired various sophisticated skills essential to start and manage such industries. She has developed a very large number of medium- and small-scale industries. India has set up more than one hundred joint industrial ventures not only in developing countries but even in some of the developed countries. The country has at present a large and growing corpus of entrepreneurs from the top level to that of small-scale industries sector level. India has become almost selfsufficient in respect of most of the durable consumer goods. She has built a remarkable network of financial banking structure as supportive agency for her rapidly expanding industrial sector. The infrastructure required to support her industries is developing side-by-side. The energy sector has expanded remarkably and is trying to catch up with the expanding industrial sector that is making an ever-increasing demand on the country`s energy resources. There is the rapidly expanding class of various professional disciplines and of skilled labour force required to manage the rapidly expanding industrial sector. India has proved to be a model for other developing countries in the industrial sphere. And all this has been taking place within the democratic set-up, with a mixed system of economy, aiming at establishing a socialist pattern of society.