What is the meaning of manufacturing industry? Why is it considered th

1.	What is the meaning of manufacturing industry? Why is it considered the backbone of economic development? Give two reasons.
Answer» Definition of Manufacturing Sector: Production of goods in large quantities after processing from raw materials to more valuable products is called manufacturing. It is considered as backbone of development because: (i) It not only helps in modernising agriculture but also forms the backbone of our economy. (ii) Industrial development is a precondition for eradication of unemployment and poverty from our country. (iii) Export of manufactured goods expands trade and commerce. (iv) Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous.

What is the meaning of manufacturing industry? Why is it considered the backbone of economic development? Give two reasons.

Answer»

Definition of Manufacturing Sector:

Production of goods in large quantities after processing from raw materials to more valuable products is called manufacturing.

It is considered as backbone of development because:

(i) It not only helps in modernising agriculture but also forms the backbone of our economy.

(ii) Industrial development is a precondition for eradication of unemployment and poverty from our country.

(iii) Export of manufactured goods expands trade and commerce.

(iv) Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous.