Indian Economy / Industry Sector
![]() |
![]() |
At the time of Independence, the Indian industry was severely underdeveloped with feeble infrastructure. The main reason for underdevelopment of industry is due to lack of government support. The little developed industry ownership was in the hands of very few industrialists. There was no sufficient managerial and technical skills at that time.
During the Five Year planning periods in India, large scale industries were initiated during the first fifteen years. The initial three Five Year Plans
are very important because they aimed at setting up a strong industrial base in India.
The growth rate in industrial production witnessed a strong acceleration
during this period. Many hydroelectric power projects were initiated and steel plants at Bokaro, Bhilai, Durgapur and Rourkela were started out during this period.
Railway network and infrastructure was strengthened. Many fertilizer and cement companies were also started. Two research institutes, The Atomic Energy
Commission of India and Tata Institute of Fundamental Research were founded.