Industrialization By Kunal Upadhyay

THE MEANING OF INDUSTRY

Industry means the economic activity which creates the economic value by transforming the raw material into finished products.

INDUSTRIALIZATION Industrialization means the establishment &

development of different types of industries producing with the help of modern methods of production a variety of goods on large scale for the local, national & international markets.

CLASSIFICATION OF INDUSTRIES:

• Public Sector Industries• Private Sector Industries• Joint Sector Industries• Co-operative Industries

OWNERSHIP PATTERN OF INDUSTRIES

• Large Scale Industries • Small Scale Industries• Cottage Industries

SCALE PATTERN OF INDUSTRIES

• Basic Industries• Capital Goods Industries• Intermediate Goods Industries• Consumer goods Industries

NATURE BASED PATTERN OF INDUSTRIES

• Capital Intensive Industries• Labor Intensive Industries

THECHNIQUE BASED PATTERN OF INDUSTRIES

OWNERSHIP Public industries:- Owned by government.Department Undertaking : Railway , Post OfficeStatutory Industries : Life Insurance CorporationPublic Limited Company : Hindustan Steel Limited

Private industries:- Owned by individual.

Joint sector industries:- 26% Government, 25% Private Sector, 49% General Public.

Co-operative Industries

SIZE PATTERNLarge Scale Industries

Units with a capital investment of more than Rs. One Crore

Small Scale Industries

Units with a capital investment of NOT more than Rs. One Crore

Cottage Industries

These are known as household industries because its manage by individuals with their own resource

NATURE BASED Basic Industries

These industries include mining and quarrying manufactures of fertilizers like cement, iron and steel, metals.

Capital Goods Industries

These industries making hand tools and small tools for, specialized tools for companies like electric cables and wires, rail road equipments etc

NATURE BASED Intermediate Goods

These industries supply goods which are still in the process of production like plastics beg, nuts, bolts

Consumer Goods

These are the industries which produce goods used for direct satisfaction of human wants like sugar, soft drink, TV

TACHNIQUE BASEDCapital Intensive

In these types of units used more capital and less labours Large scale industries fall into this category Manufacturing and processing industries

Labour Intensive

In these types of units used more labors and less capital required Small and cottage industries fall into this category

SIGNIFICANCE OF INDUSTRIALIZATION

Rapid Growth incomeRemoval of Disguised Underemployment and

UnemploymentCreation of Employment for Additional PopulationHelp Agriculture DevelopmentNational SecurityEmergence of technology AwarenessDevelopment of Basic Industries

FACTORS HAMPERING INDUSTRIALISATION

Unfavorable Policies of the British Govt.Population PressureInstitutional ImperfectionPeriodic shocksBad Industrial RelationControl and RegulationHeavy ProtectionScarcity of Funds Shortage of Infrastructure Facilities Weak

Performance of AgricultureRestriction on Exports