Industrial Development of India in Pre and Post Reform Period

Abstract

Industrial sector plays a vital role in the development of Indian economy because they can solve the problems of general poverty, unemployment, backwardness, low production, low productivity and low standard of living etc. The Indian Government had undertaken policy reforms since 1980, but the most radical reforms have occurred since 1991, after the severe economic crisis in fiscal year 1990-91. These reforms mainly aimed at enhancing the efficiency and international competitiveness in Indian industry. After nearly more than two decades of reforms, a question that has engaged the attention of the economists in recent times is what has been the effect of these economic reforms measures on the performance of industrial sector in the post-reform period in India. To know the answer the present paper attempts to present the industrial development of India in pre reform and post reform period, and investigate the impact of globalization on industrial sector in India.