Explain the classification of industries .
Answers
→ Explain the classification of industries
Classification of industries are on the following basis :
Raw Material
→ Based on raw material used in the industry , it is divided into four parts :
☯ AGRO - BASED INDUSRY
These industries use plant and animal based products as their raw materials.
Example :
Food processing , vegetable oil , cotton textile , dairy products
☯ MINERAL - BASED INDUSTRY
These are primary industries that use mineral ores as their raw materials. The products of these industries feed other industries
Example :
Iron made from Iron ore in industries
☯ MARINE - BASED INDUSTRY
These industries use products from seas oceans as raw materials .
Example :
Sea food and fish oil industries
☯ FOREST - BASED INDUSTRY
They utilize forest produce as raw material
Example :
Paper Industries
Size
→ Based on size , industries can be classified into :
☯ SMALL - SCALE INDUSTRY
Cottage or household industries are a type of small scale industry where the products are manufactured by hand , by artisans .
Example :
Basket Weaving , Pottery
☯ LARGE - SCALE INDUSTRY
Investments of capital is higher and technology used is superior in large -scale industries
Example :
Automobile
Ownership
→ Based on ownership industries are divided into 4 parts :
☯ PRIVATE - SECTOR INDUSTRIES
They are owned and operated by individuals or a group of individuals .
Example :
Financial services.
☯ PUBLIC SECTOR - INDUSTRY
These Industries are owned and operated by the government
Example :
Aeronautics limited and Steel authority of India limited
☯ JOINT - SECTOR INDUSTRY
They are owned and operated by state and individuals or a group of individuals
Example :
Maruti Udyog Limited
☯ CO - OPERATIVE SECTOR INDUSTRY
They are owned and operated by the producers or suppliers of raw materials, workers or both.
Example :
Anand Milk Union Limited and Sudha dairy
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All Done !! :D