Miscellaneous - This Day That Age   

dated January 7, 1958: Industrial expansion

Professor P. C. Mahalanobis, President of the National Institute of Sciences of India, addressing the 23rd Annual General Meeting of the Institute at the Senate Hall, University Buildings, in Madras on January 5 emphasised that Rs. 300 crores of foreign exchange invested in suitable basic industries over a period of 5 years in India would establish a sound foundation for future industrial development and would enable them to manufacture essential capital goods within the country. As regards planning in India, everyone was agreed that rapid industrialisation was the only solution to the 2 great evils of poverty and unemployment.

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