Advance technology or local inexpensive industries, policy options for development

Summary form only given. Industrial and technological growth in under-developed countries may not be feasible without the production of quality products and at a suitable price. The word “product” is used in its general context which includes material goods, services and know how. Thus, production of goods and services with quality standards and at a suitable price, is considered here as the principle goal of economic development plans in developing countries. The experiences gained from some of the advanced countries indicate that the realization of economic development plans, is only possible by a steady utilization of modern technologies and not the inefficient means of production and services which exists now in most of the developing countries