An economy can progress only if they have a good industrial sector providing a sound capital base. Industrial development is important for an overall growth of a country due to the following reasons :
(i) Industrialisation provides a strong basis for rapid and continuous increase in the income of the people.
(ii) Industrialisation leads to higher savings, investment and capital formation, thereby seating a solid foundation for self sustaining development.
(iii) Industrialisation provides tremendous employment opportunities