Today India is one among the top ten industrial nations of the world. Industrial development has changed India’s economy from under-developed status to developing status.
Industries can be classified into various types on the basis of their structure. The two main types are:
1) Manufacturing industries including heavy and light industries.
2) Small-scale and cottage industries .
Manufacturing industries: Industries which are concerned with the processing or conversion of raw materials into finished products are called manufacturing industries.
IMPORTANCE OF MANUFACTURING INDUSTRIES:
1) Manufacturing industries increase the national income and per capita income. Industrial development increases the employment opportunities to a large number of people and thus increases their income.
2) Industrial development solves the problems of un-employment and under employment which are some of the major problems of India.
3) Industrial development promotes agricultural development. Many industries are agro-based industries. Agricultural products are raw materials for these industries. Development of these industries enables agriculture to increase its production.
4) Industrial development helps to utilise the natural resources, such as mineral resources, water resources, forest resources and other natural resources. Utilisation of these natural resources helps in the progress 0f the country.
5) Many institutions belonging to the tertiary sector are also developed as a result of industrial development. e.g. Banking, education, insurance, transport and communication.
6) Countries which depend only on agriculture have low standard of living. But countries which have developed both in agriculture and industries have well balanced economic system.
7) Industrialisation helps both the domestic and foreign trade of a nation. Many goods, which we produce are exported to other countries and help us to earn foreign exchange. It also reduces our