What are the types of industries based on ownership?
Answers
On the basis ownership industries are classified into private sector, public sector, joint sector and cooperative sector.
Answer:
On the basis ownership industries are classified into private sector, public sector, joint sector and cooperative sector.
(i)Private sector industries are owned and operated by individuals or a group of individuals.
(ii)The public sector industries are owned and operated by the government, such as Hindustan Aeronautics Limited and Steel Authority of India Limited.
(iii)Joint sector industries are owned and operated by the state and individuals or a group of individuals. Maruti Udyog Limited is an example of joint sector industry.
(iv)Co-operative sector industries are owned and operated by the producers or suppliers of raw materials, workers or both. Anand Milk Union Limited and Sudha Dairy are a success stories of a co-operative venture.
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