why large scale industries are vital for the development of any country give long answer
Answers
Answer:
Large scale industries, usually, produce capital and basic goods (instruments, machines, chemicals, etc.) ... Due to the large scale of operations, they have the potential to lower the cost of goods. Further, they create opportunities for small-scaleand cottage industries to evolve and flourish.
Answer:
Industries which requires huge infrastructure and manpower with an influx of capital assets are Large Scale Industries. In India, large-scale industries are the ones with a fixed asset of more than one hundred million rupees or Rs. 10 crores.
The Indian economy relies heavily on such industries for economic growth, generation of foreign currency, and the creation of job opportunities for millions of Indians.
Here are some advantages of large scale industries:
They provide an impetus to the industrialization of the country.
Large scale industries, usually, produce capital and basic goods (instruments, machines, chemicals, etc.)
They are capable of generating funds for the research and development of new technologies.
Due to the large scale of operations, they have the potential to lower the cost of goods.
Further, they create opportunities for small-scale and cottage industries to evolve and flourish.
Also, the employment opportunities created by large scale industries are huge.