Large scale industry is not a substitute of small scale industry in the Indian economy. How do you
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Answer:
Large scale industry is not a substitute of small scale industry in the Indian economy. ... It uses labour intensive techniques of production and thus, helps in providing employment for the surplus labour in India. whereas large scale industries are capital intensive.
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Explanation:
Small scale industries are important because it helps in increasing employment and economic development of India. It improves the growth of the country by increasing urban and rural growth. Role of Small and medium scale enterprises are to help the government in increasing infrastructures and manufacturing industries, reducing issues like pollution, slums, poverty, and many development acts. Small scale manufacturing industries and cottage industries play a very important role in the economic development of India. If any amount of capital is invested in small scale industries it will help in reducing unemployment in India and increasing self-employment. The industry is a sector in which the production of goods is a segment of the economy. Let us learn more about the importance of Small scale industries and how SSI helps in developing the country