Why is manufacturing consider as the backbone of economic development give five
reason
Answers
Explanation:
The manufacturing sector is considered as the backbone of the economic development of the country because of the following reasons:
(i) Manufacturing sector helps in modernising agriculture which increases agricultural productivity.
(ii)the manufacturing sector diminishes the heavy dependence of people on agriculture and provides jobs to a large number of people in the industrial as well as the service sectors.
(iii) The development of the manufacturing sector also aims to minimise regional disparities by setting up industries in tribal and backward regions of 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.