Why is manufacturing sector considered as the backbone of indian econiomy?
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1) Manufacturing sector not only helps in modernising agriculture but also forms the backbone of indian economy and reduces the heavy dependence of people on agricultural income by providing jobs in tertiary and secondary sector.
2) Industrial development helps in eradication of poverty and unemployment.
3) It brings down the regional disparities by establishing industries in tribal and backward areas.
4) Export and import of manufactured products helps in commerce and trade and brings enough foreign exchange in the country.
5) Countries that transform raw materials to a wide variety of finished products with high price are prosperous and India's prosperity lies in increasing and developing manufacturing industries.
hope it helps!!
2) Industrial development helps in eradication of poverty and unemployment.
3) It brings down the regional disparities by establishing industries in tribal and backward areas.
4) Export and import of manufactured products helps in commerce and trade and brings enough foreign exchange in the country.
5) Countries that transform raw materials to a wide variety of finished products with high price are prosperous and India's prosperity lies in increasing and developing manufacturing industries.
hope it helps!!
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