UPSC > Indian Economy for UPSC CSE > Industry & Infrastructure- 1
Industry & Infrastructure- 1 Video Lecture - Indian Economy for UPSC CSE
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FAQs on Industry & Infrastructure- 1 Video Lecture - Indian Economy for UPSC CSE
| 1. What is the importance of industry and infrastructure in economic development? |  |
Ans. Industry and infrastructure play a crucial role in economic development as they provide the necessary framework for businesses to operate and contribute to the growth of a country's economy. Industries create job opportunities, generate income, and contribute to the GDP, while infrastructure, such as transportation and energy networks, supports the smooth functioning of industries and facilitates trade and commerce.
| 2. How does industry contribute to employment generation? | |
Ans. Industries contribute significantly to employment generation by creating job opportunities across various sectors. As industries grow, they require a workforce to operate and manage their operations, leading to the creation of both direct and indirect employment. Direct employment refers to jobs within the industry itself, while indirect employment includes jobs in supporting sectors like logistics, marketing, and services that cater to the needs of the industry.
| 3. What are the key factors that attract industries to invest in a particular region? | |
Ans. Several factors influence industrial investment decisions in a region. Some key factors include the availability of skilled labor, infrastructure facilities like transportation and power supply, access to markets and resources, favorable government policies and incentives, political stability, and a business-friendly environment. These factors collectively determine the attractiveness of a region for industries to invest and establish their operations.
| 4. How does infrastructure development impact economic growth? | |
Ans. Infrastructure development plays a crucial role in fostering economic growth by providing a solid foundation for various economic activities. It enables efficient transportation of goods and services, reduces logistics costs, facilitates trade and commerce, and enhances connectivity between regions. Additionally, infrastructure development in sectors like energy, telecommunications, and water supply ensures a reliable and sustainable supply of resources, further supporting economic growth.
| 5. What are the challenges faced in developing industry and infrastructure? | |
Ans. Developing industry and infrastructure can be challenging due to various factors. Some common challenges include inadequate funding and investment, lack of skilled labor, bureaucratic hurdles, land acquisition issues, environmental concerns, and technological barriers. Additionally, ensuring equitable development across different regions and addressing the needs of marginalized communities can also pose challenges in the process of industry and infrastructure development.
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