explain any three points about the importance of industries?
Answers
Explanation:
mportance of Industries
i)Rapid growth of income
The first and th foremost argument in favor of industrialization is that it can provide a base for rapid growth of income.It is because of the fact that that productivity rates are higher in industry than in agriculture. Industries mainly depend on man;'s effort while agriculture is restricted by th limiting factor of the nature. It is also seen that the Industrialized nations have a high per capita income.
ii)Employment
With the increasing population agriculture is unable to provide for employment. Hence it is very important to set up industries to absorb this surplus labor.Hence industries can solve the problem of unemployment.
iii)Exploitation of resources
Industries are capable of utilizing all the resources present in the economy. They can even make use of scraps and waste materials. Agriculture cannot make use of all the resources.
iv)Foreign exchange
India cannot earn adequate foreign exchange from the exports of its primary products. It is because of the fact that the demand for such products is very low in other countries. Industrial exports need to be added to the primary products.
Answer:
Industry:- Industrial sector is of great importance of industries in development of a country .It is a proven fact that a country with strong industrial sector have shown more economic growth have improved national income and promoted living standard of people. Industrialisation has the played an important role in improving the economic condition of various countries like America and Japan by removing unemployment.
Importance /Advantages of industrialization areaa as follows :
1...Economic stability:- a country that only depends upon agriculture sector cannot achieve stability that there is any in balance, only the main dash power example labour Institute of Technology is being used hence industrialisation proved economic stability to the country where in the country is not slowly depend on only one sector there is a balance between the contribution of both the sector to the economic you are reading article on importance of industries in development of country .
2... increase in foreign exchange reserve :- with the introduction of more and more Industries there will be a rise in foreign exchange earning the exports will rise and import inputs will start falling in numbers they would be more cash in flows Self sufficiency will increase .
3... utilisation of natural resources:- there may be a lot of resources lying on used like Barren Barren lands and Minerals which cannot which can be of no use to agree to the agriculture of financial sectors of a country that in their for Industrial Development would add to the utilisation of such resources which otherwise would have been completely wasted and their contribution in monetary terms would have been an NIL.
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