question_answer

Why is the economic strength of a country measured by the development of manufacturing industries? Explain with examples.

Answer:

Economic strength of country is measured by manufacturing industries:

(i) Manufacturing industries not only help in modernising agriculture which forms the backbone of economy, they also reduce the dependency of people on agriculture.

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

(iii) Export of manufactured goods expands trade and commerce and brings much needed foreign exchange on international level.

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

(v) India?s prosperity lies in increasing and diversifying its manufacturing industries as quickly as possible.