1. Industrial development during 1950’s to 1965:
- During this phase, a majority of consumer goods were produced in India.
- The Industrial sector was underdeveloped with weak infrastructure.
- The first three Five-Year plans were very important because their aim was to build a strong industrial base in independent India.
2. Industrial development during 1965’s – 1980:
- As the first three Five-year plans mostly focused on the development of the capital goods sector, the consumer goods sector was neglected.
- The consumer goods sector is the beck bone of rural economy.
- As a result, there was a fall in the growth rate of industrial production.
3. Industrial development during 1980’s till 1991:
The period of the 1980’s can be considered as the period of the industrial recovery. This period witnessed quite a healthy industrial growth.
4. Industrial development post 1991 Reforms:
- The year 1991 ushered a new era of the economic liberalization.
- India took major decision to improve the performance of the industrial sector.
- The Tenth and Eleventh Five-year plans witnessed a high growth rate of industrial production.
- The new policy welcomes foreign investments.
