Analysis Of Indian Industrialization Path In 50s And 60s Of 20th Century

As a British Colonial Country, India has got tremendous economic achievements and rapid industry development in the 20 years after independence. It owes to the industrialization strategies of Nehru and the reform measures of Indian government. We can interpret the achievements of Indian economy today better by recalling and analyzing Indian industrialization in 50s and 60s of 20century and draw lessons from it.PartⅠrecalled the development of modern Indian industry and its weaknesses. On the one hand, from the middle of the 19th century, commodity dumping and capital export became the main British colonial policy of India. Therefore, the colonial authority speeded the structural transformation of the Indian economy, which promoted the development of commodity economy, and caused the creation of modern Indian industry. Meanwhile, there is some development of Indian ethnologic industry, especially during WW I, WW II and the time before independence of India. We can find the emergence of a large number of industrial enterprises and a small number of monopolistic consortium in India. Indian industrial system was being taken shape. On the other hand, there are many weaknesses in the early Indian Industry. Firstly, the British colonial governance caused the underdevelopment of Indian national economy. the British investment was concentrated in the industries of raw materials, energy and the processing of agricultural products. Secondly, the Indian industry was facing serious shortages of productive capital which flew...