In developing an industrial strategy we often face conflicting situations. Some of them like production growth versus environmental impact, automation versus employment are highly complicated issues to deal with. The capabilities of developing countries are being challenged in finding ways for simultaneously addressing productivity, job creation, wage increase, value addition, inequality, environmental degradation, and inclusiveness. Although productivity is critical for increasing wage, it often leads to the adoption of advanced technology that reduces labour demand. To counter the role of labour-saving technology, often developing countries condone environmental issues.
However, the new industrial age offers the opportunity of addressing these variables […]
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