Industrialization has come to be regarded as synonymous with economic growth and development. No country desirous of rapid economic progress can afford to neglect industrialization.
Industrialization can help the progress of agriculture, trade, transport and all other economic activities. Industrialization is the key to economic development. All advanced countries of the world are industrialized.
It will make the best possible use of our human and physical resource. All types of goods for all types of people should be produced in large, medium, cottage and small scale industries.
Importance of Industrialization
In the interest of economy, rapid industrialization is important for generating employment opportunities, utilization of all types of resources, promotion of education, training and research, improving the productivity of labor and balanced regional development.
- Industrial growth brings a rapid increase in the national income of the country.
- In order to reduce the continued increasing pressure of exploding population on our developing economy, rapid industrialization is a must.
- Land is limited in area but industrialization has unlimited scope.
- To set up large number of industrial units we can create more employment opportunities and absorb a large number of unemployed youths.
- Agriculture cannot use all resources. So, industrialization is a must to make use of our resources.
- Industry can make use of waste materials.
- Industrialization widens horizon of our understanding and enables us to go through education and researches. Thus it will prove the quality of our manpower.
- We can use more capital and technologies.
- We can have division of work and specialization in the industry.
- This will result in the improvement of productivity of labor.
- Industrialization is capable of removing regional disparities because barren lands can be used for this purpose.
- No fertile land and means of irrigation are needed for industrialization.
- Industrialization will raise the standard of living of our people.
Conclusion: The solution of our problems lies in the rapid industrialization of the economy. Every region should be industrialized. Agriculture is over burdened with population. In order to absorb the manpower rendered surplus by the agriculture, there should be industries in the rural areas. There is unlimited scope of industrialization due to continued researches, introduction of new technologies and invention.