It is not much of a secret that the increase in technology could be directly seen in the level of economic growth. Technology consists of knowledge and tools that make more effective use of economic resources to produce goods and services. The more advanced technology means that there are more chances of economic growth in the area and around it. There are many reasons for the same like technology saves time and money. A product or service could be made or delivered in lesser time than without technological advancement. It can improve the efficiency of the output rate of a company and later the nation. Another reason is that it also means that industries tend to expand with technologies which further leads to the growth of a nation in terms of economy. Technology has a great effect on the ability of government and businesses to use the natural resources available in the nation in a sustainable manner.
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