Question

make a flow chart of classification of industries and Explain every type of industry in 50 words ​.​

Answer 1

Manufacturing industries are broadly classified on the basis of 5 factors.

1. On the basis of the raw material used:

a. Agro-based industries-

These are the industries that use the agricultural or natural products like cotton, wool, jute, silk, textile, rubber, tea, coffee, sugar, edible oil etc.

b. Mineral-based industries-

These are the industries that uses the minerals of the earth to process various items. Some of the mineral based industries deal with iron amd steel, cement, aluminium, machine, tools, petrochemicals etc.

2. On the basis of their main role:

a. Basic Industry-

Basic industry or key industry are those industries which supply their as raw material for other goods. Basically, they produces unfinished goods. For example, iron and steel, copper smelting, aluminium smelting etc.

b. Consumer industry-

These industries produce products that can be consumed directly by the people. They are directly sold to the common markets were the people can buy it. These industrials basically produce finished goods.

3. On the basis of capital investment:

a. Small scale industy:

A small scale industry is defined with referance to the maximum investment allowed on the assets of a unit. The limit is gradually changing over time. Diring 2014, the limit was 4 lakhs and below. However during 2016, it was one crore.

b. Large scale industry:

A larde scale industry can be defined with referance to the minimum investment allowed to the assets of a unit. Like small scale industries, the limit is gradually changing from above 4 lakh during 2014 and above one crore during 2016.

4. On the basis of ownership:

a. Public sector-

The industries in public sector is completely owned by the government of that region. It can either be the local or state government, or the central government. Eg; BHEL, TISCO


b. Private sector-
These are owned and operated by an individual or a group of individuals.
Eg; TISCO, Bajaj Auto Ltd., Dabur Industries.

c. Joint sector-
It is jointly run by government and an individual or a group of individuals. Here, both the parties have equal rights over the important decisions like price fixing. Eg; Oil India Limited(OIL).

d. Cooperative sector-
It is owned and operated by the government and an individual or a group of individuals. They pool in resources amd share profit proportionaly. Government have more power than individuals. Eg; sugar industry in Maharashtra and coir industy in Kerala.

5. Based on the bulk and weight of raw material and finished goods:

a. Heavy industry-

The raw material and finished goods are very heavy and bulky in nature. Eg; iron and steel industry.

b. Light industy-

The products of these industries as well as raw materials are very light. Eg; electrical goods industries.






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