Why is manufacturing sector considered the back bone of dev in gen & economic development in particular
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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. ... (iv) The export of manufactured goods expands trade and commerce
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Due to following reasons manufacturing sector is considered the backbone of economic development of the country:
- Manufacturing industries help in modernising agriculture. For example industries providing fertiliser machineries have given a major boost to the agriculture by raising its productivity.
- Industrial development is required for eradication Of unemployment and poverty. An example is the establishment of industries in tribal and backward areas which brings down the regional disparities.
- Countries that transform their ROMaterial into wide variety of finished goods of higher value and prosperous for example USA.
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