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“The economic strength of a country is measured by the development of manufacturing industries.” Support the statement with arguments.

OR 

Analyse the role of the manufacturing sector in the Economic development of India.

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Role of manufacturing industries in the economic development:

(i) Manufacturing industries help in modernising agriculture, which forms the backbone of our economy. 

(ii) Manufacturing industries also reduce the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors. 

(iii) Industrial development reduces unemployment and poverty: 

(iv) It also brings down regional disparities. 

(v) Export of manufactured goods expands trade and commerce, and brings foreign exchange. 

(vi) Prosperity of our country depends on transforming raw materials into furnished goods of higher value and diversifying our industries.

(vii) Industrial sector contributes 27% of GDP and manufacturing contributes 17% of GDP.

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