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Industrialization is seen as an effective way to speed up economic growth and social change. In a democratic setting with a mixed economy, India has started to plan for economic growth. It means that along with a strong public sector, industries can also be set up in the private sector. The goal is to make and sell goods that people need, create jobs, bring in money for the government, and raise people's living standards as a whole. A system like this would mean that the corporate sector needs to be managed well and efficiently so that both national and corporate goals can be met.