Industries are considered the backbone of a country’s economic development and a parameter to measure the progress of a nation. Our country India, has been famous for ages owing to its industries, and has been a front runner of industries.
There has always been a huge demand for Indian products, and today we have different types of industries, and are exporting various products throughout the world.
In this chapter, let us learn more about industries, their types and the industrial revolution.
Industries and their Types
Economic activities related to production and marketing, extraction, and providing services are termed industries.
Here:
- Production and marketing refer to producing sugarcane, preparing sugar from it, and marketing it.
- Extraction refers to extracting iron from ores, coal, and other minerals buried in the rocks or under the earth’s surface.
Industries are divided into four different types, based on the work, size, ownership and raw materials.
Industries Based on Raw materials
There are different types of industries, which use other raw materials to produce new objects. Based on the type of raw materials used, industries are further classified into:
Ocean-based industries
- In these industries, raw materials are extracted from the ocean depth, such as fish, seafood, etc.
- Aquaculture, salt, and other industries processing seafood and manufacturing fish oil are a few examples of ocean-based industries.
Forest-based industries
- In these industries, raw materials are obtained from the forests, such as timbers, herbs, etc.
- Paper manufacturing industries and furniture industries are examples of forest-based industries.
Mining based industries
- In these industries, raw materials are extracted from the rocks under the earth’s surface.
- Iron ore is one of the primary raw materials used to make iron and steel.
Agriculture based industries
- In these industries, raw materials are obtained from farming and cattle livestock.
- Some agriculture-based industries are food processing industries, vegetable oil processing plants, dairy industries, fabrics and leather industries, etc.
Industries Based on Ownership
Based on the type of ownership, industries are further classified into:
Public or Government Industries
- These industries are owned and are controlled by the government.
- Some examples are Bharat Petroleum Corporation Ltd, Bharat Heavy Electricals Limited (BHEL), Food Corporation of India and the Oil and Natural Gas Corporation (ONGC), etc.
Private Industries
- These industries are owned and are controlled by an individual or by private groups for profit.
- Some examples are Hero Cycles, Real Estate, Amazon, etc.
Mixed or Composite Industries
- These industries are both owned and controlled by the government and an individual.
Co-operative Sector Industries
- These industries are owned and controlled either by the raw material producer or supplier of raw material or by both.
- Sugar mills and Amul are examples of cooperative sector industries. Amul is run by both the milk supplier and the owner of the livestock.
Industries Based on Work
Based on work, industries are further classified into:
Basic industries
- These industries produce raw materials required for other industries.
- These industries supply necessary raw materials for Petro Chemical, Iron and Steel, etc.
Consumer industries
- These industries produce products that consumers can directly use.
- Soap industries and sugar industries are a few examples of consumer industries.
Industries Based on Size
The industry size mainly describes the size of an organisation, the number of employees, the quantity of production and the amount of capital invested.
Based on size, industries are further classified into:
- Rural or Cottage industries
- Micro or small scale industries
- Medium-scale industries
- Large scale industries
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