What are Manufacturing Industries?

 

What are Manufacturing Industries?

Have you ever wondered where the goods that you use come from? How do industries manufacture car equipment? It is intriguing if you wonder how industries manufacture all this! In this chapter, we will discuss the manufacturing industries in our country. We will look at the different aspects of manufacturing, the contribution of the industry, and the classification as well.

What is Manufacturing?

To start with, what exactly is manufacturing? Manufacturing is the production of goods in large quantities after processing the raw materials into more valuable products. Swastik Paper Machine is Indian one of the best manufacturer companies for Fully Automatic Paper Cup Forming machines in Jharkhand. So, why is this process so important?

Manufacturing Industries

Importance of Manufacturing

 Agriculture forms the backbone of our economy. The manufacturing industries help in modernizing agriculture. Apart from this, manufacturing industries also reduce the heavy dependence of people on agricultural income. This becomes possible because of the creation of new jobs in secondary and tertiary sectors.

  • Industrial development helps in the eradication of unemployment and poverty.
  • Export of manufactured goods expands trade and commerce and brings in much-needed foreign exchange.
  • A country with a high level of manufacturing activities becomes prosperous.

Contribution of Industry to the National Economy

The share of the manufacturing sector in the GDP (Gross Domestic Product) has been stagnant at 17% over the last two decades. The total contribution of industry to the GDP is 27% out of which 10% comes from mining, quarrying, electricity, and gas.

The manufacturing sector has been growing at a rate of 7% in the last decade. Since 2003, the growth rate has been 9 to 10% per annum. The desired growth rate over the next decade is 12%.

The National Manufacturing Competitiveness Council (NMCC) has been set with the objectives of improving productivity through proper policy interventions by the government and renewed efforts by the industry.

Industrial Location

So, how do you decide where to set up a manufacturing industry? You can never choose the site of your industrial unit randomly. Some factors affect the industrial location. They are:

  • Availability of raw materials
  • Access to easy labor
  • Availability of capital
  • Proper supply of power
  • Availability of market
  • Infrastructure

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