Fardus Mahmud BBA-AIS-1st Comilla University @@@ Discuss the importance of industry in the economy of Bangladesh ?

Ans :
Although Bangladesh is an agricultural country But there are many importance of industry in the economy of our country which are given below :-

1) Rapid economic development :

As, the rate of production of industry can be increased rapidly than agriculture, so it industrialization is more essential for rapid economic development. Beside this industrialization is considered a pre-requisite of the economic development.

2) Increase national & per capital income :

Per capita & national income of Bangladesh is very low. It cant be increased rapidly by agriculture. So industrialization is very essential for increasing national & per capita income.

3) Development of living standard :

Industrialization plays a vital role in the increment of living standard & per capital income of the people in the society.

4) Development of agriculture :

Bangladesh is an agricultural country. All kinds of modern instrument, insecticides, chemical furniture & irrigation-equipment are needed to develop the agriculture of B.D.

5) Solving unemployment problem :

Unemployme nt is a curse in our country. So to solve the unemployment problem industrialization is essential to set up largely in our country.

6) Proper utilization resources :

of

natural

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Banglad esh is full of natural resources. But still these natural resources are not utilized properly. So for proper utilization of natural resources industry can play an important role in our country. 7)

Economic stability :

The production of agricultural goods is uncertain, but the production of industrial goods is more certain than agriculture. So industrialization is needed to assure the economic stability of Bangladesh.

8) Reducing dependency on agriculture :

Today the economy of our country mainly depends of agriculture. But by setting up small-large industry, the dependence on agriculture can be reduced.

9) Earning foreign currency :

A lot of foreign currency is needed to import machines, tools, raw materials of industries from foreign country. In this case industry helps to earn enough foreign currency.

10) Bringing favorable situation :

Transaction balance is engaged to a balance of payment. So industry helps to bring favorable situation in the economy of Bangladesh.

Development of transportation system:

11)

communication

&

It we want to develop our country, at first we need developed communication & transportation system. For developing communication & transportation system, industrialization is very essential

12)Socio economic development :

13) Reducing the pressure of population on agriculture:

Over population is a great problem of Bangladesh. By creating adequate 9

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employment opportunity on industrial sectors we can reduce the pressure of population on agriculture.

14) Reducing dependency of foreign trade :

Our country depends on foreign trade. By establishing a large number of industries in Bangladesh we can reduce the dependency on foreign trade.

15) Development of defense power :

To protect our country from the attack of other country & to develop our defense power industrialization is essential.

In fine we can say that,

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