Analyze the role of manufacturing sector in economic development of India.
Answers
this sector is responsible for trade or for developing Indian economy
The role of the manufacturing sector in the economic development of India is the following:
1. Manufacturing activities not only provide help to the modernizing agriculture ( the backbone of Indi-an economy) but it also diminish the large dependency of Indian people on farming income by offering them jobs.
2. For the elimination of poverty and unemployment from India, Industrial development becomes a precondition. It also aims to bring down the regional differences by placing industries in tribal and un-derdeveloped areas.
3. The shipping of manufactured goods helps in developing trade networks and brought a significant amount of foreign exchange.
Therefore, it may be concluded that the success of India lies in developing and diversifying its manu-facturing businesses as promptly as possible.