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How much is the contribution of manufacturing sector to the nationalincome of the country? |
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Answer» Importance of manufacturing industry is as follows: It has helped in modernising agriculture by manufacturing tractors, tools and machines used in cultivation. It has reduced employment pressure on agriculture It has brought in much needed foreign exchange It has expanded trade and commerce Manufacturing industries have helped in eradication of unemployment and poverty It has helped in the growth and boom in economy. Manufacturing industries have contributed 17% of our GDP. Its growth was stagnated earlier. However, since 2003, it is growing at a rate of 9-10% per annum. |
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