“Manufacturing is considered as the backbone of the economic development of the country”. Justify the statement.
- Manufacturing industries help in modernising agriculture. Agriculture forms the backbone of our economy.
- Manufacturing industries provide large number of employment.
- They also reduce the heavy dependence of people on agriculture income by providing them jobs in secondary and tertiary sectors.
- Industrial development is a pre-condition for eradication of unemployment and poverty from India.
- Export of manufactured goods expands trade and commerce. It brings in much needed foreign exchange.
- Regional disparities are also reduced by establishing industries in remote and backward areas.
- India properity lies in increasing and diversifying its manufacturing industries as quickly as possible.