“The economic strength of a country is measured by the development of manufacturing industries.” Support the statement with arguments.
Answer:
Role of manufacturing industries in the economic development:
- Manufacturing sector is considered as the backbone of development.
- All round development depends on industries.
- Industries help in modernising agriculture.
- Reduce the heavy dependence of people on agricultural income by providing them jobs.
- Industrial development is a precondition for eradication of unemployment and poverty from the country.
- It was aimed at bringing down regional disparities.
- Expansion of manufactured goods.
- Trade and commerce brings in much needed foreign exchange.
- India’s prosperity lies in increasing and diversity of its manufacturing industries as quickly as possible.