Question

Explain the classification of industries on the basis of raw materials with examples.

Hint:

The shift in India's imports reflects economic liberalization, industrial growth, and increasing consumer demand, highlighting the country’s growing integration into the global economy.

Answer 1

India's pattern of imports has undergone significant changes over the years due to various factors such as industrialization, economic reforms, and globalization. In the past, India primarily imported raw materials and capital goods to support its domestic industries. However, the structure of imports has diversified in recent decades.
- In the 1950s and 1960s, imports mainly consisted of machinery, raw materials, and food grains.
- In the 1990s, following economic liberalization, the country began to import more consumer goods, electronics, and automobiles.
- Currently, India imports a substantial amount of crude oil, gold, and electronic products. As India becomes more integrated with the global economy, the share of manufactured goods and technology imports has increased significantly.
In conclusion, India's import pattern is now more diversified and influenced by the demand for technology, consumer goods, and energy, supporting the country's rapid economic growth.