The revolution took place around the end of 18th century and early 19th century. The overall economic outlook of England’s society saw a turn and twist in the manner in which it operated previously, and this was formally coined in by Arnold Toynbee (Williams, 2011, 138) who gave it the name of revolution and since then the term has been referred to as revolution in form of modernization of society across the world. Apart from the form of practices, it had its effect on the different styles of leadership and ruling over individuals in society as well. Keywords: Development, steel, economic development Characteristics of revolution: It brought about change in the life styles. Prior to it people relied on agriculture and lived a simple life style that was restricted to the rural part of the countries. With the advent of the industrial revolution, industries were developed; machinery came about into usage, people started adopting the new means. Although the revolution was of totally different pattern as compared to the previous revolutions yet it had an impact on the social sphere, economic sphere and political sphere within different societies. The countries with greater economic development were in position to dominate the situation and enforce their conditions and political systems upon other nations. Imperialism was a sequence of the entire event that took place as a result of dominant and stronger economic states against the weaker ones (Kesselmae et.al, 2011, 51). In the social sphere, it allowed for jobs creation and overall rise in the income level. The ultimate impact was that of improvement of the economy. Per capita incomes (Sng, 2010), G.D.Ps, annual budgets and other social and economic factors saw progress up to multiple folds which was completely unprecedented. Countries with more progress in the industrial sector ended up becoming developed states and those with little access and advantages extraction from the industrial means and mechanism remained underprivileged and under developed. The impact was directly visible upon the people within those societies and the overall standards of life were of little attractive outlook with regard to income and prosperity level. The earliest traces of Industrial revolution can be traced back in to the English society where people started using the tools and devices at domestic level, although the term came into force and knowledge in France first(Clark, 2000, 5) . This in turn gave rise to the industry at local level and people started progressing with the overall prospect of various professions. Machine, tools, automation, iron, steel were few of the terms that were trade mark of the concept of industrial development that took place in Europe. The spread of development in form of concepts of industrialization did not stop in the social spheres of England only ,rather it made inroads into other societies of Europe as well and later on extended beyond the European continent and United States of America got engulfed into the overall developmental process. The benefits and modifications that resulted from industrial development were not only limited to manufacturing industries or heavy machinery usage, rather they enabled the communication advancements in form of the building of roads, and covering these roads with automobiles of all kinds.