The economic strength of a country is measured by the development of manufacturing industries. Explain.
The economic strength of a country lies in the development of manufacturing industries. It is the backbone of development in general and economic development in particular due to the following reasons : Manufacturing industries help in modernising agriculture. It reduces the heavy dependence of people on agricultural sector. At present more than half of the workers in the country are still working in the primary sector, mainly in agricultural activities. The workers in this sector are under employed. It provides jobs in secondary and tertiary sectors. Industrial development or manufacturing industries are necessary for the removal of unemployment and poverty in a country like India. This was the main philosophy behind public sector ventures in India. 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. The industries make a country rich and prosperous because raw materials are transformed into a wide variety of finished goods of higher value which increases the income.
