1. Manufacturing industries not only help in modernizing agriculture, which forms the backbone of our economy, they also reduce the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors.
2. Industrial development is a precondition for the eradication of poverty and unemployment from India (public sector industries and joint sector ventures). It was also aimed at bringing down regional disparities by establishing industries in tribal and backward areas.
3. Export of manufactured goods helps in expanding trade and commerce and bringing in a significant amount of foreign exchange. Therefore, it can be concluded that India’s success lies in increasing and diversifying its manufacturing industries as quickly as possible.
NOTE – Industries involved in the production of goods from raw materials to produce large quantities of goods are termed as manufacturing industries. Sectors of an economy –
1. Primary Sector - deals with Agriculture and related activities
2. Secondary Sector - deals with manufacturing industries
3. Tertiary Sector – deals with the service sector
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