Industry has great importance in economic development of all countries. History states that countries with strong industrial sector provide more economical growth and development. Many developed countries depend significantly on manufacturing industry such as china. Industry is the second largest sector in Pakistan that contributes about 25 percent to the GDP. It comprises of large to middle scale manufacturing, mining and quarrying, construction, technology, electricity and gas distribution. Since industrial revolution, industrialization is regarded as the major cause of the economic development. Those countries which relied on agriculture are highly undeveloped whereas the countries which worked on setting up industries are economically stable. The countries which encouraged industrialization on large scale are America, Germany, Great Britain, Japan, Russia etc. Pakistan ranks 41 in the world in factory output. Cotton textile production and apparel manufacturing are Pakistan's largest industries, accounting for about 66% of the merchandise exports and almost 40% of the employed labor force. Cotton-based products account for around 61% of export earnings of Pakistan. Other major industries include fertilizer, cement, edible oil, sugar, steel, tobacco, chemicals, machinery and food processing. In 1947 at the time of partition Pakistan had a negligible industry. Pakistan got only 35 industries out of the 955 industries while the remaining where held by india. Such a small number of industries were not enough for a recently conceived nation to face the industrialized world. With the progression of time Pakistan used its all accessible assets domestic and outer for fast improvement of manufacturing sector. Pakistan has now maintained... ... middle of paper ... ...tries. 6) Supply of raw material is necessary for the improvement of industrial sector. 7) Advanced infrastructure is necessary for development of industries in Pakistan. 8) Financial institutions should provide credit facilities to industrial sector at flexible terms and conditions. 9) There should be an expansion of markets at the local and foreign level of industrial goods. 10) Foreign investment should be encouraged and more incentives should be given to investors. 11) Political stability is necessary for the development of industrial sector. 12) High degree of technical education is required to produce skilled, technical and efficient work force. 13) Problem of load-shedding should be removed and proper electricity should be provided. 14) Self-reliance policy and Commercial policy should be adopted to remove industrial backwardness.
These countries experienced change in governments, economic power, and social structure as a result of industrialization. Yet, these states went through their industrializations in very different ways than each other. Russia, industrialized as a result of many peasant revolts. The revolts led to the emancipation of the serfs in 1861, they received land but the political chains were still in place. Many reforms are still needed.
Industrialization is the process of developing machine production of goods. Extensive natural resources such as water power, coal, iron ore, rivers, and harbors were required for industrialization. Britain had not only these resources but in addition it had an expanding economy to support industrialization, a large population of workers, and political stability which gave Britain an advantage. All these things are called the factors of production.
Starting in the mid 1700s and continuing to the late 1850s, arguably still ongoing today, industrialization is centered on the development of machinery and urbanization. This new era found its roots in Great Britain, and later in the entirety of Western Europe once the French Revolution and the Congress of Vienna were resolved. Development was essential in Great Britain simply because it was not connected to continental Europe and Britain had the resources, like coal, to fuel the industrial revolution. Once the idea of industrialization was sparked, it burned like wildfire and spread to the rest of Europe. Results of industrialization were exceptional and robust; calling for others to join. Industrialization was a time for growth, both economically and politically, wide
The Industrial Revolution began over two centuries ago and has had a major impact on every current world power. It began in a group of islands off the North West coast of Europe and has been imitated or tried by every nation looking to increase its wealth and power throughout the world. Industrialization came out of the basic ideas of capitalism because it fostered individuals who were willing to take high risks in hopes of high returns on their investments. These investments included factories and machines that would be put to use by people to better their standard of living. These entrepreneurs would return their profits back to the expansion and improvement of their factories and machines.
Industrialization can be viewed on the basis of various aspects such as the society, economy, politics and technology.
The industrial revolution impacted daily life, politics, and gender relations. During the industrial revolution, humanity had turned to machines for production instead of people because they where able to produce things more quickly and efficiently. The three main concentration areas in the industrial revolution were transportation, industry, and market. During the nineteenth century, the United States were the industrializing nation because of the outcome of the War of 1812. Therefore, America needed to improve its infrastructure. The industrializing nations were India, China, and Brazil. They were going through it while the lowest life expectancy nation, central Africa, was non-industrialized. England started industrializing around the 1780s that spread to France, German, U.S, and Canada. Their first invention was the steam powered ships, engines, and railroads. Later in the 1860s, the internal combustible engines were introduced. The Market R...
The expansion into new markets and lines to help assure the full use of resources;
In the long run, an economy of a nation that seeks to gain wealth by focusing on expanding its industrial sectors through specialization and the division of labour is not only natural, but it is also beneficial for self-interests of all by creating more dexterous workers, increasing labour efficiency, and spurring innovation.
New Geographical markets: this involves selling outside the region or a country and offering them same existing product. Expanding into new market place with the same existing product is a very effective way to grow the business.
The development of the industrialisation is an outcome of the advancement of agriculture. Agriculture has played a very important role in the development of human civilisation. Nearly 90 percent of the population lived in rural areas during the 18th century. These rural families produced most of the food, clothing and other useful commodities. Talking about the advancement of agriculture, no other name comes to mind except England.
...g the necessary skills, the knowledge and the training to produce graduates who are capable of entering the labor force as an asset to the organization and the country as a whole.
Great Britain was the first country to experience industrialization due to its abundant natural resources such as coal and iron, immense expansion throughout the world and subsequent economic growth from trade, and its governmental and financial strength. The industrial revolution was fast and maintained strength in Great Britain, whereas other Western countries experienced industrialization much more gradually and with more difficulty, due to political, social, and economic instability.
Agricultural sector is the major contributor in the GDP of Pakistan. It contributes around 20.9% to the country’s GDP and provides employment to around 67% of the people to the rural population. Our agriculture sector supplies raw material to the industrial sector especially the textiles industries, the largest industrial sub-sector of the economy. In this perspective, any shift in the agricultural income can affect the economy as well as the rural population of the country.
Pakistan has all the major ingredients necessary to become a developed nation; it has a geo-strategic location, a generous availability of natural resources and a large population in the working age. Despite having the potential to turn itself into a developed country, Pakistan has not been able to fulfill its potential.
Pakistan is rich in various natural resources. Pakistan’s human assets include a population of intelligent young people and urban middle class. The culture, awareness, fortune, and structure are sure to develop and improve in the near future.