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India's Industrial Landscape: From Independence to the 1960s

Discover how India's industrial journey, from 1947 to the 1960s, was marked by policy reforms, institutional growth, and corporate expansion.

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In the foreground I can see a plate in which chapatis are there and bowls in which curries, salad,...
In the foreground I can see a plate in which chapatis are there and bowls in which curries, salad, rice and non-veg items are there and a glass which are kept on the table. This image is taken in a room.

India's Industrial Landscape: From Independence to the 1960s

India's industrial landscape in the mid-20th century was marked by significant shifts and growth, shaped by both global and domestic factors. The country's first industrial slowdown occurred in the 1960s, while key institutions and policies were established to guide its economic development.

Post-independence, India saw competition among professional bodies, with the Indian Engineering Association (IEA) and the Engineering Association of India (EAI) vying for members and influence. Meanwhile, the economy was largely colonial, with foreign firms dominating crucial sectors in 1947.

The country's first prime minister, Jawaharlal Nehru, served for 17 years, laying the foundation for a new India. The First Plan (1951-56), focusing on transport, communication, and power, was launched with an outlay of Rs.19,600 million. This period also saw the establishment of the Confederation of Indian Industry (CII), originally known as the Engineering and Iron Trades Association (EITA), in 1895.

The Industrial Policy Resolution of 1948 and the Industrial (Development and Regulation) Act of 1951 regulated and prioritized industries. However, the Industrial Policy Resolution of 1956 took a more socialist approach, reserving 17 industries exclusively for the State.

TISCO, with government support and a World Bank loan, doubled its capacity by 1958. The Birla Group also expanded internationally, setting up a textile mill in Ethiopia in 1948, its first international venture.

India's industrial journey, from independence in 1947 to the 1960s, was characterized by policy reforms, institutional growth, and corporate expansion. Despite challenges, the country made significant strides in shaping its industrial landscape.

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