what is the meaning of manufacturing?why is it considered the backbone of indian economy??
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Conversion of unfinished raw material into finished good is known as Manufacturing.
It is considered the backbone of Indian Economy because
(i) Manufacturing sector helps in modernising agriculture which increases agricultural productivity.
(ii) Since a huge portion of India's population is dependent upon agricultural income, the manufacturing sector reduces the heavy dependence of people on agriculture.
iii)It provides jobs to a large number of people in the industrial as well as the service sectors.
(iii) It reduces poverty as well as unemployment from the country.
(iv) The export of manufactured goods expands trade and commerce.
(v) The export of a wide variety of manufactured goods to other countries also brings in foreign exchange which leads to economic development of the country.
It is considered the backbone of Indian Economy because
(i) Manufacturing sector helps in modernising agriculture which increases agricultural productivity.
(ii) Since a huge portion of India's population is dependent upon agricultural income, the manufacturing sector reduces the heavy dependence of people on agriculture.
iii)It provides jobs to a large number of people in the industrial as well as the service sectors.
(iii) It reduces poverty as well as unemployment from the country.
(iv) The export of manufactured goods expands trade and commerce.
(v) The export of a wide variety of manufactured goods to other countries also brings in foreign exchange which leads to economic development of the country.
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