1. industries help in modernizing agriculture which forms the backbone of our economy. 2. industrial also reduces the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sector.
What is the role of industry?
Industry is viewed as leading sector to economic development. We can have economies of scale by applying advanced technology and division of labour and scientific management. So production and employment will increase rapidly. This will bring economic growth and capital formation.
What is industry Short answer?
An industry is a group of manufacturers or businesses that produce a particular kind of goods or services. You can use industry to refer to a group of similar businesses: The automobile industry makes cars and car parts.
What is Industrialisation and its importance?
Industrialization is the process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines.
Why are industries so important to a country?
Industries are necessary for the well being of the people of every country because industry together with agriculture helps the country in achieving its economic growth and development. However with everything else there are two sides of coin.
Why is industrial sector important in economic development?
Importance of Industries in Development – Industrial sector is of great Importance of Industries in Development of a country. It is a proven fact that a country with strong industrial sector have shown more economic growth, had improved national income and promoted living standard of people.
How does industry support other sectors of economy?
Supports Agricultural, Defence and other sectors of economy: With the development of industrial sector other sectors are also benefited. Industries provide machinery like tractors and modern inputs to the agricultural sector. It improves the working and live-style of the farmers.
What are the advantages of industrialization in a country?
Advantages of Industrialization are as follows: 1. Economic Stability: A country that only depends upon agriculture sector cannot achieve stability. There is an imbalance, only the man-power i.e. labour-intensive technology is being used.
