The manufacturing industries are those industries which produce different goods and commercial services from raw materials. They do this processing by means of machines, instruments and work forces to produce different products or commercial services. Products like bread, cotton garments, automobiles, beer etc. are manufactured products.
Manufacturing, any industry that makes products from raw materials by the use of manual labour or machinery and that is usually carried out systematically with a division of labour.
In a more limited sense, manufacturing denotes the fabrication or assembly of components into finished products on a fairly large scale.
Among the most important manufacturing industries are those that produce aircraft, automobiles, chemicals, clothing, computers, consumer electronics, electrical equipment, furniture, heavy machinery, refined petroleum products, ships, steel, and tools and dies.
Importance of Manufacturing
The importance of manufacturing sector is increasing day by day due to globalization and liberalization, as well as progress in technology.
Manufacturing activity offers an opportunity to the developing countries to exploit their comparative advantage and which further provides an opportunity for growth and development.
It makes a big difference between survival and success, and will help your business grow faster than if you went without it.
The manufacturing sector is considered the backbone of development due to the following reasons:
- Manufacturing industries help in modernising agriculture as it provides jobs in secondary and tertiary sectors.
- It helps in the eradication of unemployment and poverty.
- Export of manufactured goods expands trade and commerce, and brings in much needed forelgn exchange.
- It helps in prospering the country by giving a boost to the economy.
