What is the manufacturing sector? Why is it considered the backbone of development? Interpret the reasons.
PRODUCTION of goods in large quantities after processing from raw materials to more valuable products is called manufacturing. Manufacturing belongs to the secondary sector in which the primary materials are processed converted into finished goods.
- The economic strength of a country is measured by the development of manufacturing industries.
- Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous.
- It helps in modernising agriculture. Agriculture is the base of our economy.
- Industries 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 our country.
- Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange.
- India’s prosperity lies in increasing and diversifying its manufacturing industries as quickly as possible.