Manufacturing industries are considered the backbone of a country’s economic development. Justify the statement by giving four reasons.

Asked by Topperlearning User | 26th Jun, 2014, 04:50: PM

Expert Answer:

Manufacturing industries are considered the backbone of a country’s economic development due to the following reasons:

1. Apart from modernising agriculture by manufacturing various agricultural tools, they have reduced the heavy dependence of the people on agriculture.

2. They have helped in the reduction in poverty and unemployment in the country by providing job opportunities to millions of people.

3. Manufacturing industries have brought in much needed foreign exchange by exporting goods.

4. These industries by transforming raw materials into finished goods have led to an increased prosperity of India. 

Answered by  | 26th Jun, 2014, 06:50: PM

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