What is the manufacturing sector? Why is it considered the backbone of development? Interpret the reason.
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Answer
Definition of Manufacturing Sector: Production of goods in large quantities after processing from raw materials to more valuable products is called manufacturing.It is considered as backbone of development because:
It not only helps in modernising agriculture but also forms the backbone of our economy.
Industrial development is a precondition for eradication of unemployment and poverty from our country.
Export of manufactured goods expands trade and commerce.
Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous.
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