ROLE OF NATURAL

RESOURCES IN
ECONOMIC
DEVELOPMENT

WHAT ARE NATURAL RESOURCES

Natural resources are generally defined as
all those things given by nature on, above
and under the surface of the earth. In this
broad sense natural resources include
land, water, forests, fisheries and animals,
mineral ores and sources of energy like
coal, petroleum, gas and uranium, etc.

Natural resources are derived from the

environment. Some of them are essential for
our survival while most are used for satisfying
our needs. Natural resources may be further
classified in different ways.
Natural resources are materials and components
(something that can be used) that can be found
within the environment. Every man-made
product is composed of natural resources

CLASSIFICATION OF NATURAL
RESOURCES
TYPES
ONOF
THE
NATURAL
BASIS OF
RESOURCES
ORIGIN

ON THE BASIS OF ORIGIN

ON THE
POTENTIAL
BASIS OF
RESOURCES
STAGE OF DEVELOPMENT

VALUE OF NATURAL RESOURCES

Human

need is not uniform all over the

world
Over the years, they have grown and become
more complex with the progress of human
society. In very developed societies, people
use a variety of products which are highly
processed.

The level of technology

also influences the
utilization of resources.
The value of the resource
changes with time .

 According

to Walter Young quits, during

periods of economic growth supply and
demands of a resource will typically rise due
to increasing consumption from not only
population growth but also higher living
standards and the increased uses found for
a given resource.
A country deficient in natural resources
may not be in a position to develop rapidly.
In fact, natural resources are a necessary
condition for economic growth but not a
sufficient one.

ROLE OF NATURAL RESOURCES IN

ECONOMIC DEVELOPMENT
PROVISION OF EMPLOYMENT: Natural resources
employ the largest number of people in the country. It is
estimated that about 55% of Indians are employed by the
sector in activities like farming, fishing, and hunting.
PROVISION OF RAW MATERIALS: Natural
resources serve raw materials to feed most industries in
the country. Cocoa is used to produce Milo and chocolate.
Fish, timber, and fruits serve as raw material for some
industries.

 PROVISION

OF FOOD: Another importance of

natural resources is the provision of food to the teeming

population of the country. Man cannot work for a long
time without food. About 80% of foods consumed are
natural. Rice, cocoyam, fish to mention a few are products
from the Agriculture sector, and are great source of energy
to man.
SOURCE OF FOREIGN EXCHANGE: Natural resources
provide wealth that is exported to other nations to earn
foreign exchange. India exports products like cocoa,
coffee, banana and others to UK, Germany and other
counties, the proceeds from this is used to procure
machines and other equipment to develop the country.

 PROVISION

OF INCOME: Natural resources also provide

those employed in its activities income. Farmers sell their
products on the market to earn income, which they need to
buy manufactured goods and other to improve their standard
of living.
PROVISION OF MEDICINE: Most of the medicines used to
cure diseases in India are made from herbs, roots and tree
backs. These are provided by the Agriculture sector.
PROVISION

OF ENERGY: Renewable resources such as wind,

solar, water are able to provide us with limitless energy, not
forgetting the most basic form of survival (water), and the energy it
provide hydroelectric power. Solar power is obtained from the sun.

LIST OF NATURAL RESOURCES IN

INDIA
FOREST RESOURCES
MINERAL
RESOURCES

CONSERVE NATURAL
RESOURCES
Natural

resources are important because they

contribute to the economy of the nation in which they
exist.
Resources decides the development of country in a
way that country utilizing more resources is more
powerful & more developed.
Resources like coal, petrol, precious stones are
limited & they will have to finish.

THANK YOU