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Significance of Cottage Industry in India

Answer Text:
Significance of Cottage Industry in India
1. Creation of employment.
- The industry is labour intensive and therefore provides employment to many people. This has raised their living standards.
2. Utilization of local resources.
-Cottage industry uses locally available materials or recycles others that would have been wasted.
3. Foreign exchange.
-The industry earns foreign exchange through the sales to international markets.
4. Declined rural-urban migration.
-The industry is established in rural set ups and therefore helps to check the influx of people to urban areas.
5. Manufacture of cheap products.
- The industry produces cheap affordable products to meet the demands of low income earners.