What are the contribution of manufacturing sector for the development of the country
Answers
Contribution of industries to a national economy by,
a)Industries provide for the production and goods and provision of services. It has brought about substantial increase in GDP of any country.
b)Industries generates employment for vast majority which help in improving living standard and poverty eradication.
c)Industrial sector adds to country's growth and provide wide variety of choices for consumers.
d)It ensure export of manufactured goods thereby adding to the country's foreign exchange.
e) It improves country's infrastructure and contribute to the overall development.
The manufacturing sector has helped with the development of the country in the following ways:
- Helped with the production of goods and providing the services for the country
- Has helped with employment opportunities
- Added to the GDP of the country
- Growth and development of the country
- Has helped in increasing the productivity of the agricultural sector
- Helped in modernizing the agricultural sector
- Helped in expanding trade and commerce through the export of manufactured goods.
Explanation:
- Manufacturing has played an important role in the economic development of a developing country.
- The manufacturing sector has also helped with minimizing the regional disparities by setting up industries in the rural and other regions of the country.
- The manufacturing sector is considered as the backbone of the Indian economy.
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