Question

explain the role of industries in the development of Indian economy also write types of industries
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Answer 1

Answer:

There is a great role of industries in the development of Indian economy. It provides many benefits such as Employment generation, production of goods, etc. It is viewed as leading sector to economic development. We can have economies of scale by applying advanced technology and division of labour and scientific management. So production and employment will increase rapidly. This will bring economic growth and capital formation.

Industry sectors of the economy

1. Primary sector
2. Secondary sector
3. Tertiary sector
4. Quaternary sector
5. Quinary sector

Details

• Primary sector = the raw materials industry
• Secondary sector = manufacturing and construction
• Tertiary sector = the "service industry"
• Quaternary sector = information services
• Quinary sector = human services