describe the contribution of industry to national economy
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Contribution of industry to NationalEconomy. The share of industries to the GDP has is 17% which goes up to 27% when the contribution of mining, Quarrying, electricity and gas is included. The growth rate predicted for the next decade is 12% and it is at present growing at the rate of 9 to 10% per annum.
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The process of production of goods in large number by using machines is called manufacturing.
Manufacturing industries help in modernizing agriculture.
Manufacturing industries also reduce the heavy dependence of people on agricultural income by creating new jobs in secondary and tertiary sectors.
Industrial development helps in eradication of unemployment and poverty and helps in bridging regional disparities.
Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange.
A country with high level of manufacturing activities transforms raw materials into finished products creating more choices for the consumers and a more prosperous society.
Answer.
The process of production of goods in large number by using machines is called manufacturing. Manufacturing industries help in modernizing agriculture. Manufacturing industries also reduce the heavy dependence of people on agricultural income by creating new jobs in secondary and tertiary sectors. Industrial development helps in eradication of unemployment and poverty and helps in bridging regional disparities. Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange. A country with high level of manufacturing activities transforms raw materials into finished products creating more choices for the consumer
Manufacturing industries help in modernizing agriculture.
Manufacturing industries also reduce the heavy dependence of people on agricultural income by creating new jobs in secondary and tertiary sectors.
Industrial development helps in eradication of unemployment and poverty and helps in bridging regional disparities.
Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange.
A country with high level of manufacturing activities transforms raw materials into finished products creating more choices for the consumers and a more prosperous society.
Answer.
The process of production of goods in large number by using machines is called manufacturing. Manufacturing industries help in modernizing agriculture. Manufacturing industries also reduce the heavy dependence of people on agricultural income by creating new jobs in secondary and tertiary sectors. Industrial development helps in eradication of unemployment and poverty and helps in bridging regional disparities. Export of manufactured goods expands trade and commerce and brings in much needed foreign exchange. A country with high level of manufacturing activities transforms raw materials into finished products creating more choices for the consumer
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