Industrialization is a very important aspect of a developing economy like that of India. Many moderate to radical steps have been taken to create a better industrial atmosphere in India. In the decades following India's independence, under the leadership of a few loyal visionaries, India embarked on pro-socialist economic development. Many major industries like Steel Authority of India Limited (SAIL), Bharat Heavy Electricals Limited (BHEL), Oil and Natural Gas Corporation (ONGC), National Thermal Power Corporation (NTPC), Indian Railways, Indian Airlines, Port Trust of India ( PTI), Indian Space Research Organization (ISRO), etc. were undertaken as purely public industries. There were also some strong private industries like TATA, Birla, Godrej, Bajaj, etc. We can see most of these industries doing booming business at present too. Although these industries provide a strong foundation for India's industrial environment today, they have also suffered. of several disadvantages. To name just a few: lack of modern and efficient technologies, slowing productivity, stagnation, corruption and unbalanced industrial development. After the economic blow of 1989-90, to help the economy recover from this slowdown, India embarked on the path of liberalization, privatization and globalization, under the initiative of the The current Prime Minister of India, Dr. Manmohan Singh. Since then, the Indian economy has shown consistent GDP growth. And, today, the country is considered an important emerging economy of the future world. The industrial sector of India can in turn be divided into three sectors: primary, secondary and tertiary. The primary sector refers to industries which, taking their inputs from p...... middle of paper ...... future well-being, are often reluctant to give up their land for industrialization. There are also issues of corruption and lethargy in the corporate work culture that permeates Indian industries. There is also a lack of investment in research and development across all industrial sectors. So, if industrialization is to become the backbone of the economy, India still has a long way to go to achieve excellence. With the current boom in industries in India, we can say that a more holistic approach is required to achieve overall industrial development. Foreign and domestic entrepreneurs, large and small, must be encouraged to invest in industrial development in all regions of the country and in all industrial sectors. Once India achieves this, we can truly see “India – the new superpower” within a few decades..