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Economic development of an economy depends on the growth of industries. No economy can excel without the presence of industries. With the development of Indian industries, more amount of capital would be invested in projects, use of latest technologies and machineries would be used which will ultimately lead to higher productivity and in turn higher national income. Industrialization can also help in eliminating unemployment by providing livelihood to many people. Indian economy is an unbalanced economy since major focus is on agricultural sector. With the rapid development in Indian industry, this disparity can be eliminated leading to balanced development. Thus, it will not be incorrect to say, that to remove poverty and unemployment issues, growth of industries is essential. It is predicted that the Indian share in world’s GDP is expected to rise from 6% to 11% by the year 2025. If that happens, India will stand at third position in the global economy. This expected rise is based upon the growth of all India industries. So, let’s take a quick look on the list of Indian industries that play a major role in the development of Indian economy: • Automobile industry: India is 7th largest vehicle production country around the world. The automobile industry focuses on financing schemes and launching of new brands of trucks, two-wheelers, four-wheelers that play a crucial role in the growth of the economy. This industry is expected to increase 3 times of what it is now in the next five years. • Food processing industry: The food industry includes fruits, vegetables, milk based products, beverages, fisheries, plantation of crops etc. The ever changing lifestyle and changes in taste & preferences of the population is the key growth driver of the food processing industry. • Entertainment industry: Entertainment industry is not only limited to providing fun and entertainment to the people but is also generates employment opportunities for various people. India is the largest producer of movies in the world. • Iron & steel industry: Iron and steel industries are considered to be the backbone of an economy. The first modern iron and steel industry was established in Jharkhand in 1907. • Cotton industry: The very first cotton industry was developed in India. Cotton industry provides employment opportunities to majority of population in India. • Textile industry: Textile industry uses raw materials like cotton, silk, jute and other fabrics to manufacture clothing and garments for people. The textile industry also plays a significant role in providing employment to people. Around millions of people depend on textile industry for their bread and butter. The other basic industries in India that also hold importance are Advertising industry, banking industry, cement industry, agriculture industry, IT industry, Dairy industry, cosmetic industry, fashion industry, electronics industry etc. Industrialization benefits every economy. But at times, it also has some adverse effects. The fumes generated from various industries pollute the environment and poses a danger for the community. Also, most of the industries do not have proper waste disposal methods which also contribute to environmental pollution. The government has made stringent laws to preserve the environment hence most of the industries have started using environmental friendly methods and equipments for the same. The industries that follow environmental friendly practices are termed as green company since they use recyclable waste and minimize the use of plastic materials while manufacturing products which results in less toxic emissions. Oil and Natural Gas Company (ONGC) tops the environmental list of industries followed by Reliance Industries. Majority of the private sector companies are included in the list. IT companies are also considered as environmental friendly companies. LG, Hero Honda Motors and Johnson & Johnson are few more industries in the same category.
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