International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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INDEX OF INDUSTRIAL PRODUCTIONOF INDIA AND ITS IMPACT ON TRADE BALANCE SINCE ECONOMIC REFORM

    1 Author(s):  SATENDRA KUMAR

Vol -  6, Issue- 10 ,         Page(s) : 85 - 97  (2015 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The term industrialization is widely accepted as an indicator of economic development because by the development of industries and with the creation of its linkage effects, the economy gets a prime moving force. This results a faster increase in economic development of an economy. The manufacturing sector which is an essential component of industrial sector is treated as the back-bone of industrial development. If we trace out the development of industrial sector in India during the neo- liberalization period them it is clearly reflects that it makes an essential contribution in economics development. The contribution of industrial sector in GDP is approximately around 26.1 percent. India (with the exception of China) is currently the largest producer of textiles, chemical products, pharmaceuticals, basic metals, general machinery and equipment, and electrical machinery.

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