Gandhi had seen Independence as an opportunity to wipe the tear from every eye through agriculture .But India ran after industrialization. The given paper covers briefly how some of the factors of industrialization like Conditions for Capital – Intensive Industries non-existent, Labour Intensive Industries, Socialism and Mixed Economy, Public Sector, Private Sector and Concentration of Economic Power, Joint Sector, Foreign Loans, Foreign Investments-Multinationals or Collaborations, Widening Income Disparities, Mounting Unemployment-„Sarkar kal Phir ayen‟, Waste of resources, De-Industrialization of India and Labour Policy have .affected the fulfillment of this goal. Keywords: Globalization, De-Industrialization, Capital-Intensive Industries, Foreign Collaborations, Employment, Labour Intensive Industries, Labour Policy, Joint Sector, etc.