Which industry is often referred to as the backbone of modern industry and why?

Manufacturing is the process of producing items in big quantities from less valuable basic resources. Manufacturing industries are regarded as secondary activities because they transform raw materials, such as cotton fibre, into finished commodities, such as textiles.

Importance of Manufacturing

The manufacturing sector is crucial and seen as the engine of economic growth because-

• Manufacturing sectors aid in the modernization of agriculture, the foundation of our economy.
• By giving people jobs in the secondary and tertiary sectors, manufacturing also helps people who are heavily dependent on agriculture revenue to lessen it.
• Because it generates jobs and more cash, industrial growth aids in the eradication of poverty and unemployment. By building companies in tribal and underdeveloped areas, it also strives to reduce regional distinctions.
• Exporting manufactured goods generates foreign exchange and boosts trade and commerce.

Industrialization and Urbanisation:-

Urbanization and industrialization are interdependent. Cities that have markets for industrial goods and services including banking, insurance, transportation, labour, consultants, and financial services have industries nearby.

Manufacturing facilities were situated close to seaports for international trade during the pre-independence era, such as Mumbai, Kolkata, and Chennai. Agglomeration economics, which is the practice of many companies joining together to benefit from urban centres’ benefits,

Industry classification:

The following factors are used to categories industries.-

1- Based on the Raw Materials Employed.

• Agro-based industries, such as those that produce edible oil, cotton, wool, jute, silk, rubber, tea, and coffee.
• mineral-based industries, such as petrochemicals, iron and steel, cement, aluminum, and machine tools.

2- based on the roles they played.

• industries that are fundamental and provide their products as raw materials to other industries for the production of other items. For instance, the production of iron and steel, copper, and aluminium.
• industries that manufacture goods for end-user use. For instance, fans, serving equipment, toothpaste, sugar, paper, and so on.

3- Based on capital investment.

• Industries classified as small-scale have a maximum investment of $1 billion.
• Industries classified as large-scale are those with investments over one crore.

4- Based on ownership.

• Government-owned and -operated public sector companies, such as BHEL, SAIL, etc.
• Private Sector companies like TISCO, Bajaj Auto Ltd., and Dabur Industries that are owned and run by a single person or group of people.
• Joint sector ventures, like Oil India Ltd., are jointly managed by the government and one or more individuals.
• cooperative industry, which is owned and run by raw material suppliers, producers, or both. As in the case of the sugar business in Maharashtra and the coir industry in Kerala, they pool their resources (money, raw materials, and labour) and distribute profits and losses equally.

5- Based on the Weight and Bulk of the Raw Materials and the Finished Goods.

• Heavy industries manufacture things like capital goods like autos and construction machinery using huge machinery and heavy or bulky raw materials. Consider the iron and steel sector.
• Light industries, such as the electrical and toy industries, manufacture light utility goods from light raw materials.

Which industry is often referred to as the backbone of modern industry and why?

The backbone of contemporary manufacturing is frequently referred to as the iron and steel sector. Nearly everything we use is made of iron or steel, or it was created using equipment and tools made of these metals. Steel is a key component of vehicles including cars, trucks, ships, and trains. Even the needles and safety pins we employ are made of steel.

With the use of steel machinery, oil wells are dug. Oil is moved through steel pipelines. Steel-based machinery is used to mine minerals. Most farm equipment is made of steel. Large structures have steel frames. The Iron and Steel Industry is hence referred to as the foundation of contemporary industry.

India is one of the world’s major producers of iron and steel, yet despite this, we are unable to reach our full potential in large part for the reasons listed below.

• Low availability and high prices for coking coal Lower labour productivity Unreliable energy supply shoddy construction

Sample Questions:-

Ques1- What is manufacturing? Which economic sector does it fall under?

Ans- Manufacturing is the process of turning raw materials into final products of higher value to produce commodities in large quantities.

Manufacturing is a supplementary sector of the economy that involves transforming raw materials into finished goods. The growth of the manufacturing industry is a key indicator of a nation’s economic power.

Ques2- “Urbanization and industrialization are closely related.” Explain.

Ans- Urbanization happens after an industrial activity commences. There are some industries in and around the city. Therefore, urbanisation and industrialization are related. Cities give industry access to markets and services including banking, insurance, transportation, labour, consultants, and financial guidance, among others.

Ques3- Pick four industries based on agriculture and four on minerals.

Ans- Cotton textiles, jute textiles, the sugar industry, and the edible oils sector are four agro-based industries.

The iron and steel, aluminium, copper smelting, and cement industries are the four mineral-based industries.

Ques4- List the phases of the cotton textile industry’s development in India from ancient to current times.

Ans- Indian cotton textile industry development stages:

• Cotton textiles were made in ancient India using hand spinning and handloom weaving techniques.
• Power looms started being used after the 18th century.
• During the colonial era, our indigenous businesses faced setbacks as a result of their inability to compete with the mill-made English cloth.
• Nearly 1600 textile mills that use cotton and other man-made fibres operate in different capacities and are owned by various industries today. These days, the industry is decentralized.