Discuss the pressing need for industrialization in the Indian economy at this time.
I think that one of the fundamental challenges for the Indian economy is that it is immersed in a dualistic element. On one hand, it has yet to fully progress through the stage of industrialization. This means that in the economic stages of development, India has jumped from pre- industrialization to ultra modern consumer. This is part of the reason why industrialization is so very needed. At the same time, the Indian economy is a globalized one rooted in consumerism with nations that already have passed through the industrialized stage of economic development. In order to remain competitive and economically self- sustainable, I think that industrialization is sorely needed and must expand. Industrialization would help India remain solvent at a time when the globalized marketplace reflects economic challenges in other countries. For example, recent economic challenges with the Eurozone prevents India from fully being able to benefit from its relationships with these nations. Yet, with an emphasis on industry, India would be able to weather this potential economic storm until stability returns. At the same time, industrialization in India would be able to generate jobs for more people, helping to expand a burgeoning economy as opposed to shrinking it. Industrialization on a large scale would also help to remedy the growing "urban" vs. "rural" divide, providing jobs to all people and enabling India to grow as a collective nation, as opposed to increasing in smaller portions. For these reasons, I see industrialization in India as a rather pressing need.