Industrialization led to modern economic growth from "summary" of A Business History of India by Tirthankar Roy
The process of industrialization in India played a crucial role in shaping the trajectory of economic growth in the country. The shift from traditional, agrarian-based economies to industrialized, urban-centric ones marked a significant turning point in India's economic history. This transformation was driven by various factors such as technological advancements, increased trade and commerce, and changing consumer preferences. Industrialization not only led to the creation of new industries but also spurred innovation and entrepreneurship in India. The establishment of factories, mills, and other manufacturing units paved the way for the mass production of goods and services, thereby boosting economic output and productivity. This shift towards industrialization also led to the creation of new job opportunities, attracting labor from rural areas to urban centers in search of bett...
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