what is manufacturing sector? Describe the four types of manufacturing sectors on the basis of ownership
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Manufacturing sector:
The manufacturing sector is responsible for converting raw material into semi-finished or finished goods which can then either work as raw material for other industries or which are directly consumed by the consumer.
The different types of manufacturing sectors based on ownership are:
- Public Sector: Companies are owned and managed by the government. Eg-GAIL, BHEL, etc.
- Private Sector: Companies are owned and managed by individuals or groups. Eg- Reliance, TCS ltd, etc.
- Joint Sector: Companies owned and managed by government and individuals jointly. Eg- Oil India Limited.
- Cooperative Sector: The ownership is shared among all the stakeholders involved i.e. producer or supplier of raw material, workers, etc.
Learn more about Manufacturing sector:
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