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INTRODUCTION The subject of industrialization is very much in the air now-a-days, especially in the nations of * Asia# Africa and Latin America which have emerged to political independence after the second world war. Industrialization in reality, is a process of social change, whereby a traditional, custom-oriented and hierarchically frozen society is striving to 'catch up with the modernized and developed societies of the West or East. The countries which are a less advanced stage of industrialization or are mainly agrarian with practically no large-scale industries at all, consider Europe and the entire Western world as the birthplace of modem civilization. The developed countries with their technological knowledge is striving to dominate the globe with, all the means they can press into their services and they demonstrate to the under-developed countries the image of their own future.

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