Question

Why industries are considered as the backbone of modern economy???

Answer 1

Iron and steel industry is often referred to as the backbone of the modern industry because almost everything is either made from iron or steel or has been made using tools and machineries of these metals. It plays an important role as a basic necessity of today's economy. Materials of our day-to-day utility, from safety pins to cars, are made from steel. Without the use of iron no industry can run.