Identify the correct answer from the alternatives provided. Both Wipro and Reliance Industries are owned by:
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A co-operative society
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Both Wipro and Reliance Industries are owned by private individuals.
- A private firm is one that is owned by a private individual. Wipro is owned by Azim Premji while Reliance is owned by Mukesh Ambani.
- Public firms on the other hand are under the control of the government. State Bank of India and Indian Oil are a few examples.
- Cooperatives are firms that are owned by a group of individuals. Many people come together and pool their resources to form a cooperative. Example: Amul
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