Importance of Manufacturing

  • In general, the manufacturing sector is considered the backbone of economic development in particular because of the following reasons:
    • The manufacturing sector helps modernise the agriculture sector , which is the backbone of our economy . It also reduces the dependency of people on agriculture by providing them employment in the secondary and tertiary sectors.
    • Industrial development helps in the eradication of poverty and unemployment . This was the main philosophy behind the public sector industries and joint sector ventures in India. I t also aimed to bring down regional disparities by establishing industries in tribal and backward areas.
    • The export of manufactured goods expands trade and commerce and brings in foreign exchange.
    • Countries that can transform their raw materials into a wide variety of finished goods of a higher value are considered prosperous . India’s prosperity lies in increasing and diversifying its manufacturing industries .

Agriculture and industries move together.

  • For instance, 
    • The agro-industries have given a boost to agriculture by raising its productivity .
    • Industries depend on agriculture not only for raw materials but also to sell their products like pesticides , fertilisers , insecticides , machines and tools etc.
  • Thus, manufacturing industries have not only assisted agriculturists in increasing their production but also made the production process more efficient .
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.