Page 256 - LECTURETTE TOPICS eBOOK

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TOPIC -84

Industrialisation

Quick Points to Remember
• A transition from agriculture to industry

• Industrialisation began in 18th & 19th century
• In India industrial policies after independence
• Small-scale industries, FDI in industries, Special Economic Zones

Introduction
As an economy develops, there is a shift from agriculture sector to the industrial
sector. This is called industrialization.
This sectoral change marks the beginning of progress for the economy. With
industrialization, more consumer goods and capital goods are produced in the
economy which improves both consumption and production.
Key Points

• Shift from primary sector to secondary sector is industrialization.
• It is crucial for growth and development of the economy and for making it
independent.
• Industrialisation began in 18th and 19th centuries in countries like Europe and
North America.
• It involves setting up of a number of factories which means employment
opportunities increase for both skilled and unskilled labor.
• Training and skill development programmes come as a perk.
• Both capital goods industries and consumer goods industries are set up.
• Industrialisation requires a good investment in social overheads like the
building of adequate infrastructure, roads, bridges etc. So the country is also
benefitted with these investments that come along.

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