Why is manufacturing sector considered as the backbone of the economy?
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Manufacturing industries also reduce the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors.
It brings down regional disparities by establishing industries in tribal and backward areas.
Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange.
Manufacturing industries help in modernising agriculture, which forms the backbone of our economy.
Industry sector contributes 27 % of GDP out of it manufacturing accounts for 17 %.
It brings down regional disparities by establishing industries in tribal and backward areas.
Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange.
Manufacturing industries help in modernising agriculture, which forms the backbone of our economy.
Industry sector contributes 27 % of GDP out of it manufacturing accounts for 17 %.
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Manufacturing sector is considered the backbone of economic development because: ... export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange. Countries that transform their raw materials into a wide variety of furnished goods of higher value are prosperous.
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