Question

How is manufacturing sector considered the backbone of economic

development of the country? Explain any three points in this regard​

Answer 1

Answer:

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Answer 2

Answer:

Manufacturing sector is considered as the backbone of economic development of a country because of the following reasons:

a. It reduces the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors.

b. It brings down regional disparities by establishing industries in tribal and backward areas.

c. Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange.

d. Manufacturing industries help in modernising agriculture, which forms the backbone of our economy.

e. Industry sector contributes 27 % of GDP out of it manufacturing accounts for 17 %.