Question

Which of the following statements correctly describes India's capital goods industry at the time of independence?

Options

• India's capital goods industry was fully diversified across regions

• India's capital goods industry was confined entirely to the public sector

• India had no strong capital goods industry

• India had the strongest capital goods industry in Asia

Answer 1

At the time of independence, India had no strong capital goods industry. The absence of industries producing machinery and capital equipment severely restricted the country's capacity for broad-based industrial development.