Industrial Development

Industrial development refers to the process of improving a country's economy by enhancing its manufacturing and industrial sectors. This involves creating a stronger base for producing goods, generating jobs, and increasing productivity. It often includes investing in technology, infrastructure, and skills training. As industries grow, they can lead to higher income levels, better living standards, and overall economic growth. In developmental economics, industrial development is seen as crucial for transitioning from an agrarian-based economy to one that is more diverse and resilient, ultimately contributing to sustained national progress and reduced poverty.