Ailing Industrial System of India-A Diagnosis.pdf

A Diagnosis S P Kashyap Amita Shah During the four decades of independence the Indian industrial economy has failed to emerge as the leading sector. Sectoral shares in terms of income generation have altered but the relative losses of the primary sector are largely gained by the tertiary sector with only marginal gains for the secondary sector. The industrial econotrty has all the symptoms of a high cost economy, lacking in vitality and prone to sickness. It is argued that the conditions that could make the industrial system the engine of growth are virtually non-existent. Government policy has been excessively preoccupied with spatial and scalar considerations with scant attention te efficiency. This in turn has led to some unhealthy features like a distorted pattern of development, technological stagnation, low productivity and exploitative production relations.