Question

The industries which are organized on a small scale and produce, goods with the help of small machines, hired labour and power are called as _________.

• A. Large scale industries
• B. Small scale industries
• C. (A) or (B)
• D. (A) and (B)

Answer 1

The correct option is B Small scale industries

Small scale industries (SSIs) also known as MSMEs are defined & categorized by the Micro, Small & Medium Enterprises Development Act, 2006. The act categorizes different scale of industries on the basis of investment in plant & machinery in case of manufacturing industries and on the basis of investment in equipment in case of service sector industries.

The industries which are organized on a small scale and produce, goods with the help of small machines, hired labour and power are called as small scale industries.