Industrial Revolution In India - Pro Independence
The acceleration in the economic independence during the Post era was fuelled by the Power of Industrial Revolution. The multi dimensional growth both in the spread and divergence of agriculture combined with the potent force of industrialization, the nation's economy saw a rise from its humble beginning.
The inventions of newer technologies simplified living standards with the wave of entrepreneurs who made their presence felt in the rise of the Indian Economy. They claimed the honorable position of watchdogs of Indian economy and the government was only too pleased to see their offspring sharing the burden of running the economy. It supported this rising generation by providing support for setting up of small scale industries.
The government strived harder than ever to facilitate the process of industrialization. Besides that, the Indian Government started setting up facilities and storehouses for raw materials that were not so easily available by importing them.
The effects of this revolution could be seen from the raise of agricultural index and the production increasing four fold. From a trifling amount of 11 million tones the production in agriculture increased to 75 million tones. This increase led to mass storage of the produce in the go downs, and this is an achievement that comes from the nation that struggled under the brink of poverty and depended on foreign exports till 1960.
Since the advent of the year 1947, various incentives were provided by the government of India which encouraged the growth of entrepreneurs amongst the Indian population. The import policies were highly favorable and were partial towards the breeding of new industries.
The interaction with foreign direct investment, though not against the law, was not encouraged and it was limited to 40 %. The experts in particular issues were called in with researchers from varying dimensions collaborating together in India, for development of field technologies and to bring a change in the lives of ordinary peasants.
Much ado about the second five year plan needs to be mentioned as every word uttered and types carried the beams for future business setters in India. Instead of reliance on foreign powers for raw materials, the five year plan insisted on production of raw materials, from the basic machineries needed to produce other machineries and the raw agents dealt in various parts of instrumentation, incentives were given for setting them up.
The most daring effort taken up was settings up of developmental pools, which provided the monetary resources both for setting up of large scale and large scale industries. Commercial energy production was also held in high regard as it spelled direct profit to the government, people and the company. The production of Lignite, Crude oil, Natural gas, thermal power and hydro power all touched above 70 million tones, with the exception of Crude oil.
The Oil and Natural gas Commission set up, provided an ample opportunity for strategist for catering their thinking based on that, on the whole, the entire business of Revolution has grown and it's an high time for another one for us to surge ahead of others.