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Indrustrialisation

  • Date Submitted: 05/07/2012 10:33 PM
  • Flesch-Kincaid Score: 31.8 
  • Words: 305
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Importance




Industrialization plays an important role in the economic prosperity and growth of a nation.In any economy there are mainly two fields namely agriculture and industry in which it can specialize .
In olden days it was a misconception that one must be chosen between agriculture and industry.research reveals that both the sectors of the economy must go in cohesion to make a nation prosper agriculture provides raw material to the industry where as industry provides powerful machinery for fruitful and encouraging results in agriculture sector.
industrialized nations have high gross domestic products. their per capita income is comparably higher than agriculture based countries. deficit in account took place in Pakistan from its initial days and one of the reason for it was importing of expensive machinery to start the economic cycle and industrializing Pakistan.
electronic products have stable and high prices due to its innovation in the world market ,where as prices of agricultural products are fragile to climatic conditions that is why they are sold at the throw away prices in the world market.
the whole outlook of a nation modernize because of industrialization. people acquire jobs in urban center with decent pay scale and availability of consumer goods is cheap and easy due to local production.
it is evident in the current scenario that industrialized nations are the richest in the world like america,japan and now china. china transformed from an agricultural economy to the industrialized nation.now they have surpassed the economy of japan and considered the second best economy of the world after america. India is trying to speed up the process of industrializing their economy.
nations which are confined to agriculture only,lack behind in the economies of the world,their antiquated methods are no match to the corporate sector style of agriculture in industrialized nations.

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