INDUSTRIES AND ECONOMIC ACHIEVEMENT

This is the age of industrialization. Only the development of industries can bring about changes in economic status of any country. There are some countries in the world showing quick pace of development. Those counties are called ‘Developed Countries’, like the USA, Japan, France, Germany, etc. All these counties are categorized as industrial countries.

Countries whose economy is based upon agriculture are called developing countries like the countries of Asia and Africa. Therefore, the measuring rod of the economic achievements of a country is its industries.

Nepal is predominantly an agricultural country and the development of industry is absolutely essential for its economic achievement. Thus, industry is next to agriculture which can contribute to making the economy strong and powerful.

The advantages of industries are as follows:

• Proper use of the country’s means and resources.
• Creates job opportunities.
• Maximum production will enhance export and reduce import.
• Helps to earn foreign currencies.
• Development of infrastructure.
• Increase in per capita income and bring improvement in the standard of living.
• Helps to support the development of agricultural sector.
• Country will become self-dependent.

In recent years, several industries have been established at different places, but, have not developed well due to various problems. The problems are as follows:

• Lack of sufficient raw materials.
• Lack of appropriate industrial policy.
• Lack of capital.
• Lack of skilled human resources.
• Lack of market.
• Lack of better means of transport and communication.
• Lack of proper machinery and tools.

Solutions to the problems faced by industries:

• Provision of market.
• Availability of raw materials.
• Availability of skilled manpower.
• Preparation of appropriate industrial policy.
• Provision of capital.
• Facility of transport and communication.
• Provision of storage.
• Political stability and good governance.