Question

How many types of industries are there in India? Describe the industries on the basis of ownership?

Answer 1

On the basis of ownership, industries can be classified as:

Public Sector: These industries are aimed and operated by government agencies.

Private Sector: These industries are owned and operated by private entrepreneurs, e.g., TISCO, Bajaj Auto Ltd., Reliance Industries, Dabur Industries, etc.

Joint Sector: These industries are jointly run by the state and individual or a group of individuals. Oil India Ltd (OIL) is jointly owned by the public and private sectors.

Cooperative Sector: These industries are owned and operated by the producers or suppliers of raw materials, workers, or both. The pool in the resources and share the profits or losses proportionately such as the sugar industry in Maharashtra, the coir industry in Kerala.