“In the post-independence era ($\displaystyle 1950$ – 90s), industrial development in India accelerated the rate of economic development.”

Justify the given statement with valid reasons.

The industrial sector in India made notable progress during the period $\displaystyle 1950$-$\displaystyle 90$, focussing on the development of heavy and capital goods industries. Moreover, expansion of the public sector led to the establishment of key industries and resulted in a well-diversified industrial sector. Thus, industrialisation played a vital role in enhancing economic development by increasing output, diversification and self-reliance.