The Industrial Development Of India - 1132 Words

It is stated by the several scholars that British Government never interested to the industrial development of India. During the British period, the growth of industrial output was hindered due to the utmost poverty of the rural population of India. The large proportion of the middle-class population had a taste and choice of imported goods instead to indigenous products. The tariff protection provided by the British government was not enough to protect the industries because the government was neither interested in the establishment of industrial plants nor in the development of banks. Even during the period local industries had not given any preferences at the time of allotting contracts. The evidences found from the review of various†¦show more content†¦[28] See A.I. Levkovsky, op. cit., pp. 78, 305, 335. After facing a long time political pressure government of India was relieved in 1947. Since that time India had been noticed a continuous change in the entrepreneurial history of the India. Due to the freedom, entrepreneurs gained substantial confidence and self-belief and pursued towards the fulfillment of their entrepreneurial desires with a new energy. The people expectations from the government were at altitude for the betterment of their life, including the entrepreneurs who were expecting necessary infrastructure facility for the development of the country’s economy as a whole. The regional development and need of employment stipulated the path for the establishment of new ventures in the country. Government of India understood the need to formulate a scheme for achieving the balanced regional growth and for the development of the economy. To rejuvenate and to develop the existing industries once again, Government of India launched the first Industrial Policy, 1948 this policy was revised from time to time (Kuchhal1963). After some times, the Government came forward with the Industries (Development and Regulation) Act, 1957. But the main change had been noticed after the adoption of planning commission in 1951. In the first five year plan (195-1956) the Community Development Program was launched (1952) and focus was given on power and transport facilities, agriculture and price stability, this initiative had