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Why are industries important? |
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Answer» In industrial sector, the raw materials are worked upon by people and changed using tools and machines to produce a good that can be useful. The importance of industries : i) Industries provide a wide range of products : There are plenty of goods made in factories. Ranging from paper and other stationery, fridges to cars, batteries, bulbs and other electrical appliances. ii) Industries are expected to employ a large section of people looking for jobs : 1. Generating employment to work in factories is generally considered as one of the indicators of development and improvement of well being of people. 2. Employment in industries has increased from 11% in 1972-73 to 22% in 2009-10. iii) Industries are important source of export incomes: 1. We earn a lot of foreign exchange by selling industrial goods to foreign countries. 2. Even today, nearly two-thirds of goods exported is contributed by industries. |
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