Industry is the key to the rapid economic development because industrialization involves radical transformation of society in all its aspects economic, social, political and cultural. It is true that rapid industrialization is the only effective way of helping the Indian economy to come out of the vicious circle of poverty. To lay sound foundation for rapid industrialization, there is a need for huge investments in key and basic and large scale industries. But concentrating merely on large scale industries is bound to create miseries to millions in the form of unemployment, shortage of consumer goods, concentration of wealth in few hands. As a result the basic problems like unemployment, shortage of foreign exchange and paucity of capital will be accentuated. Under the circumstance, small industries are undoubtedly better suited, since they are labour intensive and capital saving. This book is more helpful for researchers, students, teachers and non-governmental organizations etc.