Question

How does setting up of an industry helps in development?

Answer 1

Dear Student,

a. Setting up an Industry is directly linked with growth and development.
b. It leads to the production of goods and services.
c. It enhances country's GDP and accounts for its overall growth.
d. Industries generates employment and creates opportunities for people.
e. Industrialisation is also linked with the growth or urban towns and centres.
f. Industrialisation also ensures the availability of other basic facilities like water, electricity which are indeed pre requisite for setting up an industry.
g. Industries accounts for foreign trade and ensures inflow of foreign capital.


Regards