Role of Manufacturing Industries in Economic Development

Production of goods in large quantities through manufacturing processes is vital for economic growth. Manufacturing industries enhance agricultural productivity, create employment opportunities, generate income, and boost trade through exports. There is a strong interdependence between agriculture and industry, with industrial development improving infrastructure and contributing significantly to the national economy. Various factors influence industry location decisions, such as raw materials, labor availability, government policies, and access to financial resources. Industries are classified based on raw materials, with agro-based and mineral-based sectors playing essential roles in serving consumer needs and driving economic growth.

• Manufacturing Industries
• Economic Development
• Agriculture
• Interdependence
• Industrial Growth

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Uploaded on Jul 20, 2024 | 2 Views

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1. MANUFACTURING INDUSTRIES MANUFACTURING INDUSTRIES

2. Manufacturing. Manufacturing. Production of goods in large quantities after processing from raw materials to more valuable products is called manufacturing. Manufacturing belongs to secondary sector in which the primary materials are processed and converted into finished goods.

3. Importance of Manufacturing It helps in modernizing agriculture It reduces heavy dependence on agricultural income by providing jobs in non-agricultural sectors. Industries help in creating jobs and generating more income. Export of manufactured goods expands trade and brings in foreign exchange. .Industrial development brings prosperity to the country

4. Interdependence of Agriculture and Industry Agro-industries have boosted agriculture by raising its productivity. Industries depend on agriculture for their raw materials, e.g. cotton textile industry. Industries provide many agricultural inputs like irrigation pumps, fertilizers, insecticides, PVC pipes, machines and tools, etc. to the farmers. Development of different modes of transport by industrial sector has not only helped farmers to obtain agricultural inputs but has also helped them trade their products.

5. Contribution of industries to the National Economy Improve country's infrastructure

6. Factors which Affect the Location of an Industry - Availability of: Raw material Labour Power government policies. Banking and insurance facilities Capital

7. Classification of Industries Agro-based Raw Materials Mineral-based Basic Main Role Consumer

9. Small-Scale Capital Investment Large-Scale Heavy Bulk and Weight Light

10. Public Sector Private Sector Ownership Cooperative Sector Joint Sector

13. Thank you Nancy George Mysore AECS,