Manufacturing industries not only help in modernising agriculture, which forms the backbone of our economy, they also reduce the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors. 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. Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange. Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous. India's prosperity lies in increasing and diversifying its manufacturing industries as quickly as possible. Agriculture and industry are not exclusive of each other. They move hand in hand. For instance, the agro-industries in India have given a major boost to agriculture by raising its productivity.
Q.1. How India can become a prosperous country?
Q.2. What values do you learn from the above extract?
Q.3. What was the motto of establishing public sector and joint sector ventures in India?