Business Studies, asked by chakraborttyrin3878, 1 year ago

What is manufacture ? What is important manufacture industry ?

Answers

Answered by Anonymous
26

Importance of manufacturing industry is as follows:

It has helped in modernising agriculture by manufacturing tractors, tools and machines used in cultivation.

It has reduced employment pressure on agriculture

It has brought in much needed foreign exchange

It has expanded trade and commerce

Manufacturing industries have helped in eradication of unemployment and poverty

It has helped in the growth and boom in economy.

Manufacturing industries have contributed 17% of our GDP. Its growth was stagnated earlier. However, since 2003, it is growing at a rate of 9-10% per annum.

I hope this may help you....

Answered by ShrinkingViolet
22

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The literal meaning of manufacturing is ‘to make a product by hand’, but it has attained a wider meaningless in the present scenario. The conservation of raw material into more useful and valuable commodity with the help of machines or tools is called manufacturing.

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  • Converts raw material into a much useful finished product.
  • Transforms natural resources into useful and saleable products.
  • Generates scope for employment
  • Increases national earnings
  • An industrial labourer earns more wages than an agricultural labourer.
  • Industries play and important role in making a country economically prosperous.

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