Answer:
Industries which are involved in the production of goods in large quantities after processing raw materials to more valuable products are called manufacturing industries. For example - Iron and Steel industries. Manufacturing sector is considered the backbone of development in general and economic development in particular mainly because: (i) Manufacturing industries not only help in modernising agriculture, which forms the backbone of our economy, they also reduces the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors. (ii) Industrial development is a precondition for eradication of unemployment and poverty from our country. This was the main philosophy behind public sector industries and joint sector ventures in India. It was also aimed at bringing down regional disparities by establishing industries in tribal and backward areas. (iii) Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange. (iv) Countries that transform their raw materials into a wide variety of furnished goods of higher value are prosperous.
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