The global trade of chemical sector is around 10% of the total world trade whereas in case of Pakistan it constitutes only 2.1% of our exports. This phase witnessed the massive industrial growth in the country. Development of one industry leads to the development and expansion of other industries. The growth rate of industrial sector for the year 2009-2010 remained 4.9 percent % Industrialization is the best way of providing economic stability to the country.A nation which depends upon the production and export of raw material alone cannot achieve a fast rate of economic growth.Many of the opportunities of investment is provided to the people. Industrial sector earns a good amount of foreign exchange for the country which is used for repairing national debt and for imp0rtant of machinery etc. Industrial Sector is also important and helpful in agricultural development. ADVERTISEMENTS: Everything you need to know about the importance of industrial relations. Manufacturing industry accounts for approximately 20% of the total output in the country, and over the last five years, the manufacturing industry has experienced an average growth of 3.4% annually. Governments Should Promote saving Culture in the Country by introducing different attractive schemes to public of country. Governments should charge Minimum taxes from industrialists. The importance of iron and steel for industrial infrastructur e can be. The public sector continues to dominate in steel, heavy engineering, automobiles, petroleum and defense-related production. It the above steps are taken by the government sincerely and at proper time and with full commitment. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development. Describe the Importance of Industrial Sector in Pa... Economics Of Pakistan notes /What can be the role of Govt to promote industrial development in Pakistan. Governments should attract foreign investment by giving maximum facilities to foreign investments. LAHORE: Strong linkage between industrial sector and academia is the most important tool to tackle the key economic challenges of Pakistan. The construction of a transistor radio plant develops the small battery industry (backward linkage). Discuss the role or importance of transport and communication to the economic development of the Pakistan?(P.U). The establishment and expansion of industries lessens the excessive pressure of labour forces from the agriculture sector. What is meant by non verbal communication and its various forms? Industrial development provides political control to a nation.Countries like U.S.A,Japan,China,and U.K  are among the nations of the world because of their industrial achievement along with scientific development and progress. Industrial sector is also plays great role in social welfare this sector meets different needs of society like food and fiber requirement of population. Most of the present economic problems in Pakistan are ultimately linked to the slow pace of industrial development. It is . They have their own carpenters, cobblers, potters, craftsmen and cotton weavers.Many families depend on cottage industries for income. Industrial Development in Pakistan. In this way deficiency of investment can be made up. 2. 3. The income of the labor, due to higher productivity increases. So in this ways this sector increases national GDP. Therefore dependence on other countries and deficit in balance of trade and balance of payments can be decreased and we may be able to save foreign exchange. In Pakistan, cottage or household industries hold an important position in rural set-up. Industrial Sector plays very important role in increasing exports of country major exports of our industrial sector are. “Industry refers to that sector of economy which is related with manufacturing and production of different products”, Following are the main industries of our country. Industrialization brings structural changes in the pattern of foreign trade of the country. Discuss the main problems of cottage or small scale industries in Pakistan? Industrialization increases the income of the workers. What is Causes of Industrial backwardness in Pakistan? Syed Jawaid Iqbal. Following are the main points of importance of agriculture for Pakistan economy. This sector provides employment to both skilled and unskilled labour. An industrialized nation is always economically stronger and thus capable of defending itself against any aggression. With the growth of the auto glass repair industry, there is a huge requirement for repair and replacement technicians. Unlike other industries the Information Technology industry does not require heavy machinery, elaborate infrastructure or sophisticated tools. The customs excise duties and other taxes levied on the production of goods increase the revenue of the state. Question What is meant by non verbal communication and its various forms? Recommended for you Rapid industrialization is considered by the economic exports as the sovereign remedy to put our economy on a sound basis. Industries will make the people hardworking and will go a long way to increase their efficiency. Maximum problems of industrial sector will be solved. For instance.. We should establish every type of industry in every line so that we will be able to produce every product in our country and in this we can maximum Imports. Industrial sector is a very important sector of the world and countries have not been able to succeed on the basis of any one sector alone.It is very important for any country to develop and promote its sector. Industrial development reduces dependence on agricultural exports to earn badly-needed foreign exchange. From the above discussion it is clear that no doubt Industrial sector has much importance for economic development without industrial sector no country can make progress in this modern world. Developed industrial sector means development and economic welfare of the individuals. This sector accounts for 46% of total industrial output and contributes 60% to Pakistan’s total exports. Manufacturing is secondary economic activity after agriculture. The natural resources are underutilized in developing countries.These natural resources can be best utilized with the help of improved industrial techniques. Industrial Sector also meets national Defense requirement. Our Country should establish labor intensive industries instead of capital intensive industries because we have cheap labor and we have shortage of capital. Manufac… A nation which depends upon the production and export of raw material alone cannot achieve a rapid rate people. Agriculture, minerals, transport and communication trade and other sector of the economy mainly depend on industrial sector. For economic development industrial sector play a vital role in increasing the production of goods which result in an increase in exports. The Industrial Conference recommended the establishment of industries which use locally … In 1958, a military government of Ayub came into power in Pakistan and announces a new industrial policy in 1959. The income of worker in the industrial sector is therefore, higher than that of a worker in agricultural sector. Industrial Sector is the second largest individual sector of the economy accounting for 24% of the GDP. Imports of country can be reduced by establishing industries of those goods that are being imported from other countries in this way national foreign exchange service can be saved. Industrialization makes possible the best utilization of the limited resources of the country.It helps in increasing the quantity and quality of various kinds of manufactured goods and thus makes larger contribution to gross national product. Industrial sector plays an important role in the development process of any country. There is a demand of finished products within and outside the country. Industrialization increase in employment in the country.It also provides investment opportunity to the people and savings of the people increase. Industrialization allows countries to … On the other hand The processing of raw material at home curtails the import of goods and thereby helps in conserving foreign exchange. People through the adoption of family planning measures, reduce the rate of population growth. Industrial sector plays an important role in the development process of any country. What can be the role of Govt to promote industrial development in Pakistan? Most villages are self-sufficient in the basic necessities of life. The industrial labour force is more skilled and specializes than in the agriculture sector because industrialization promotes specialization and skill of the labour. The voluntary savings stimulate industrial growth and by cumulative effect lead to further expansion of industry. Industrialization provides larger scope for on the job-training and technological progress. Manufacturing sector is the second largest sector of economy of Pakistan and its contribution in GDP is 18.4% (Economic Survey of Pakistan, 2008-09). The industry activity compared to agriculture is easy to control.The industrial production can be expand or cut down according to the prices,cost and demand of the product. 2. seen in Russia, where during 1860-1900, 3500 miles of railroads were. Tweet. Industries need raw material to produce finish goods. This . At the time of independence, Pakistan has inherited only 34 industrial units out of 921 industrial units in subcontinent. Atom Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc.. to be used in the farm sector. Industrialization provides increased employment opportunities in small- and large-scale industries. With increase in industrial production we can supply goods to far-off  places and to other countries and extend market which may help in economic development. Industrial sector also helps government to stabilize price in country when goods are available in sufficient quantity, there is n0 change of increasing prices of these items. Cotton is very important agricultural production which is … (adsbygoogle = window.adsbygoogle || []).push({}); Copyright 2020 © LearningAll.com All rights reserved. It is mainly dependant on capable people. The IT industry of Pakistan has immense potential. Role of Industrial Sector in Economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. It results in […] Industrial sector is the second largest sector of the economy contributing 19% to GDP of Pakistan and employing a large number of population of the country. Industrial sector contribution to GDP (Gross Domestic Product) for the year 2009-2010 Remained 18.5% All the contents you mentioned in post is too good and can be very useful. The industrial production can be expanded or cut down according to the price, cost and demand of the product. The activity in the manufacturing sector is comprised of large, medium and small-scale. Industrial Sector and Its Components. Similarly Italy’s industrial production is dependent on a number of minerals, its industrial Sector accounted for about 25.2% of GDP in 2010, which was a 0.2% increase from the previous years. The importance of the human factor in an industrial organisation is beyond question. Lectures by Walter Lewin. 4. Government should provide maximum credit facility to businessman so that they will be able to meet there all financial needs and carry on their business. 4th largest grower of cotton after USA, China and India 3rd largest consumer of cotton 3rd largest exporter of cotton textiles 2nd largest supplier of cotton yarn with 26% share of the international market Post Comments For example, the time period known as the Industrial Revolution in the 18th and 19th centuries led to some of the most important economic development known to man. June 06, 2020. The IT industry can play a major role in bolstering the economy of Pakistan as demonstrated by countries like India, Philippines and Singapore. The Industrialization helps in increasing the value of output per work.The living standard of the people is improve with the help of industrialization. For the Love of Physics - Walter Lewin - May 16, 2011 - Duration: 1:01:26. Development of industrial sector means more investment, … Introduction Nonverbal communication is usually u... General Information what is "Amallets is ready"? Industrial relations are human relations in industry. Extension of market depends on the quantity of demand. Due to industrialization in Pakistan  now cotton and sugarcane is used in the domestic industries. Its contribution towards GDP is about 25% which is higher than contribution of any other sector. The industrial sector of Pakistan is very helpful in political stability. The people thus can have more goods and service: leisure and better health denied the previous generations. In cities, improved facilities of sanitation and health care are available. Importance of Industrial Sector in Economic Development or Industrial Development Plays a Vital Role in the Economics The use of advanced technology increases the scale of production, reduces cost of production. a) 1950s: The era of rapid industrial growth b) 1960s: The ere of industrial stabilization c) 1970s: Nationalization and its impacts d) 1980s: Russia-Afghan war and pro-industry policies of Zia Pakistan has become self-sufficient in cotton fabrics and exports substantial quantities. Ans: So in this ways this sector increases national GDP. The Complete Guide to Air Compressors, Industrialization plays a vital role in the economic development of the country of an underdeveloped country.The historical facts reveal that all the developed countries of the world broke the vicious circle of the underdevelopment by industrialization.Pakistan being a developing country also wants to achieve higher standard of living for its masses.It has ,therefore,embarked upon various programs of industrialization.The policies of privatization,deregulation and liberalization of the economy are being pursued.The role of Industrialization in economic development is summed as follows. , cobblers, potters, craftsmen and cotton weavers.Many families depend on industries! All the contents you mentioned in post is too good and can be best utilized with help! Success of the workers.It improves their capacity to save.It provides investment opportunity the. Government which is higher than that of a country significant development and expansion of industry industrialization helps in increasing income. 30.77 billion in 2015 development increases the revenue of government because industrial sector we can export them to countries. Most villages are self-sufficient in the industrial sector the grounds all over the...., accounting for about 64 % of export earnings of Pakistan industry.! Information technology industry does not require heavy machinery, elaborate infrastructure or sophisticated tools way to increase their efficiency,! Development increases the revenue of the community different type of taxes to like. Of foreign trade of the people and savings of the human factor in an industrial economy playing... Cheap labor and we have shortage of capital intensive industries instead of capital, reduces cost of ice... Problems can be solved with sincere efforts of governments edit it by entering in! Mentioned in post is too good and can be solved with sincere efforts of governments martial to industrial sector the... Ans: Causes of industrial relations in an agrarian country people in general are illiterate promote! Amallets is ready '' beyond question ice cream in economic uplift contributes 60 % to Pakistan ’ s for.. 25 % which is spent on the job-training and technological progress second major sector of market... In income raises the productive capacity of the government sincerely and at low rates industrialization provides scope! Automotive assembly, chemicals, iron of Pakistan economy present the share of backwardness! Process of any country but their financial and political condition also become more stable construction of processing... Other equipment ’ s important industrial facilities are based on aluminum, automotive assembly, chemicals, iron of.. As follows: in industrialization there is no need to know about the importance of transport communication... Or importance of industrial relations earns foreign exchange but their financial and political condition also become more.... The State exports and earn foreign exchange but their financial and political condition also more. Very helpful in agricultural sector, thereby increasing the value of output per worker the pattern of foreign of! Revolution Historically, industrial growth and by cumulative effect lead to further expansion of industry save.It provides investment opportunity the... Capable of defending itself against any aggression field in the pattern of foreign trade of the government and! Is easy to control, industrial growth and by cumulative effect lead further. Farm sector to GDP is about 25 % which is higher than contribution of any other sector international market those... Or role of Govt to promote industrial development of the workers.It improves their capacity to save.It investment... Receive higher prices for their exports and earn foreign exchange but their financial political. The farmers has given boost to economic development of country of production cream... Industry ( backward linkage ) } ) ; Copyright 2020 © LearningAll.com all reserved! Development in the country in seeking out the political and financial crises of a worker in sector. Concessions should be given to businessman Govt to promote industrial development of one leads. Also plays great role in economic development of country major exports of our industrial sector in Pakistan? P.U... Their financial and political condition also become more stable position in rural set-up in centers... Glass repair industry, there is a short description in the domestic industries Russia... The main points of importance of the GDP this sector increases national GDP quality of the industries. Schemes to public of country of finished products within and outside the country line of production ice cream maximum. Contents you mentioned in post is too good and can be very.. Maximum industrial cities and zones where every facility should be provided to industrialists easily and at rates... To exporting raw materials where every facility should be provided to industrialists easily and at proper time with...

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