The manufacturing industry holds a central position in the Indian economy because it serves as the backbone of large-scale production, national productivity, and sectoral development. India’s economic structure depends on industries that create value from raw materials and convert them into finished goods that support domestic markets and international trade. When manufacturing grows, overall GDP receives a strong ...
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Difference between Service Industry and Manufacturing Industry
The service industries (More formally termed: 'tertiary sector of industry' by economists) involve the provision of services to businesses as well as final consumers. Such services include accounting, tradesman ship (like mechanic or plumber services), computer services, restaurants, tourism, etc. Hence, a service Industry is one where no goods are produced whereas primary industries are those that extract minerals,...