(GIST OF KURUKSHETRA) Roadmap for Rural Industrialisation

[AUGUST-2022]

Roadmap for Rural Industrialisation

Introduction:

In this backdrop, it would be pertinent to understand the concept of Rural Industrialisation. It includes economic activities outside agriculture, carried out in villages and varying in size from households to small factories like cottage, tiny, village, small-scale manufacturing and processing industries, and services of various kinds.

Industrialisation in rural areas not only leads to increase in per capita income and augmentation of living conditions by generating appropriate employment opportunities for rural folks but also causes reduction in income disparities between urban and rural areas thus ensuring social justice.
Rural industrialisation is important not only for its contribution to GDP but also for its stellar performance in exports. The major advantages of rural industrialisation are as follows.
(i) Small and cottage industries require low capital investment
(ii) Rural industries can take more advantage of local resources
(iii) Transaction costs can be avoided by catering to local demand
(iv) Employment generation

A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship (ASPIRE):

This is another initiative to set up incubation centres and network of technology centres for enhancing entrepreneurship across India. The main objectives of the scheme are:

creation of new jobs and reducing unemployment,
grassroots level economic development,
promoting entrepreneurship culture in India,
facilitating innovative business solutions for meeting the social needs of the people,
promoting innovation for further strengthening the competitiveness in the MSME sector.