Discuss the role of the Indian state in promoting industrialisation after 1947.
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After gaining independence in 1947, the Indian state played a central role in promoting industrialization as a crucial component of economic development. The government recognized the need for rapid industrial growth to address issues of poverty, unemployment, and to strengthen the overall economy. Several key initiatives were undertaken to foster industrialization:
Five-Year Plans:
Public Sector Initiatives:
Industrial Policy Resolutions:
Import Substitution Industrialization (ISI):
Licensing and Regulation:
Technology and Skill Development:
Green Revolution and Agricultural Linkages:
Liberalization in 1991:
While the state-led industrialization contributed to the growth of the industrial sector, it also faced challenges, including inefficiencies, bureaucratic hurdles, and a lack of competitiveness. The economic reforms of 1991 marked a turning point, introducing market-oriented policies and a greater role for the private sector in driving industrial growth.