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Question

In how many types the industries can be classified on the basis of size? Explain any two.

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Solution

On the basis of size, industries can be classified into four types.
(a) Large scale industries: Industrial units where capital investment is 10crores or more e.g., Tata Iron and Steel Co.
(b) Medium industries: Where capital investment is between 5 and 10 crores e.g., Leather industry.
(c) Small scale industries: Such industries in which capital investment is 2 to 5 crores e.g., lac industry.
(d) Cottage industries: Where capital investment is normal and which are run with the help of the family members. If such industries are located in a village they are called village or rural industries are located in a village they are called village or rural industries and if they are located in a town they are known as urban, cottage industry.

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