Impact of Industrial and Technological Development on Small Scale Industries Development

Abstract

Development in Information Technology of the country enables the Small Scale Industries to confirm their success in business. It is highly motivated the marketing of Small Scale Industries and online purchasing of their products. Rapid economic development has become the foremost concern of developing countries including India. In planned economic development, industrialization occupies a crucial place. This is because industrialization and economic development have become closely integrated with each other. The potential of SMEs is often not realized because of problems commonly related to size, isolation, market opportunities, standards/quality, supply chains, logistics and technology innovation. In underdeveloped and developing countries, agriculture is the dominant sector. However, the real rate of economic growth in developing countries like India depends on the coordinated development of agriculture and industry. In fact, agriculture and industry are complementary to and interdependent on each other. Obviously, in a country like India, the answer to the question of economic development is, indeed, “balanced growth”.