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What is the importance of Manufacturing Industries/sectors for the employment generation?? |
| Answer» Importance of manufacturing industry is as follows:\tIt has helped in modernising agriculture by manufacturing tractors, tools and machines used in cultivation.\tIt has reduced employment pressure on agriculture\tIt has brought in much needed foreign exchange\tIt has expanded trade and commerce\tManufacturing industries have helped in eradication of unemployment and poverty\tIt has helped in the growth and boom in economy.\xa0Manufacturing industries have contributed 17% of our GDP. Its growth was stagnated earlier. However, since 2003, it is growing at a rate of 9-10% per annum | |