Enlist important benefits of industrialisation - Economics - Unit I- Indian Economy 1950-1990

Question

Enlist important benefits of industrialisation?

Shvetika S. · Accepted Answer

Industrial sector plays a crucial role in the growth and
development of any country The following points highlight the
benefits of employment
1 Provides employment: Industrial
sector is an important source of employment for the masses In an
underdeveloped country, where a large section of the population is
dependent on the agriculture sector, industrial sector can absorb
the surplus labour from the agricultural sector and thereby,
provide alternative employment and income earning opportunities to
the masses
2 Structural changes:
Industrialisation brings about a shift from the production and
consumption of wage goods (such as basic cereals, coarse cloth,) to
the processed goods (such as fine varieties of cloth, processed
food products) Such a transformation leads to economic growth and
improvement in the the standard of living in the country
3 Backward and forward linkages:
Industrialisation leads to important forward and backward linkages
in the economy For example, industries provide the agriculture
sector with the new and modern machines such as the tractors,
harvesters, water pumps, etc This improves the productivity and
production of the agriculture Similarly, development of industries
encourages the development of infrastructure facilities such as
transportation, communication, banking, health, education, etc,
4 Urbanisation: With
industrialisation, greater shift takes place from the rural areas
to the urban areas With the development of industries, the level of
employment and income rises Thereby, the quality of life and the
standard of living of the people rises