Growth in Service and Industrial Sectors Should be Balanced

KOCHI:
“The classical development path in the western countries constituted agriculture, Industry and service while the Asian countries though weak in agriculture, laid emphasis on industrial and service sectors”, said Dr. C.E. Chandrasekhar, Professor, Jawaharlal Nehru University, New Delhi.

Unlike other Asian countries which aimed export-oriented industrial production, India targeted its own domestic market. Though this was capable of leading the country to prosperity, the great economic inequality prevailing in the country was a hindrance. In the case of Kerala, which depends almost entirely on service sector, with the economy dependent on receipts, the future will be in great risk if a balance is not found between the industrial and service sectors”, Dr. Chandrasekhar added.

He was delivering the public lecture on ‘Alternate models of structural transformation in Asia’ organised jointly by the Centre for Budget Studies of CUSAT and Centre for Socio Econometrics and Environmental Studies. Dr. M.K. Sukumaran Nair presided and Dr. Harikumar and Dr. Rakhee Timothy spoke at the function.