Industries 2

Question 1

What are the factors that lead to industrial development in India?

Answer 1

Although cottage industries were well developed since ancient it time, it did essentially take some time for modern industries to develop. There are certain factors that led to the development of industries in India.
1. India has a wide variety of raw materials, like minerals, agricultural products and forest products.
2. India has large deposits of coal - a major power resource. Like in other parts of the world, modern industries were introduced in India around the coal - producing regions. When other sources of power like water, petroleum etc, began to be normalised, they also developed into industries.
3. Most parts in India have good transport facilities, with good connectivity in roads and railways. This helps in transport of goods and services.
4. India has a large, determined workforce, which means labour comes in abundance and a cheap price. It also meant that India’s large population provided a huge domestic market for products.
Several banks, cooperative and credit agencies in India give out loans on easy terms for setting up industries.