Critically examine the structural transformation in the Industrial Sector of India since independence.
Contribution to GDP
The contribution to GDP of the country changed in all the three sectors primary, secondary and tertiary of the economy.
Industrial growth pattern
Shift in industrial growth with focus shifted to capital goods industries from old trend of consumer goods industries, which became a good resourse for foreign exchange earning.
Banking and Finance sector
Major development in banking and finance sectors with large sum available for loan to various small and large sector industries. Furthermore, nationalisation of banks also, changed their credit policies.
Rise of Public sector
Public Sector industries developed to produce a variety of goods and services, ranging from steel Plants to textile industries.