Question

What do you understand by a joint sector Industries? How is it different from a public sector industry?

Answer 1

Answer:

Industry refers to an economic activity that is concerned with the production of goods like iron and steel industry, extraction of minerals like coal mining industry and the provision of services like tourism industry.

• Industries owned and operated by the government are public sector industries. Examples of public sector industries include the Steel Authority of India Limited and Hindustan Aeronautics Limited.
• On the other side, the state and individuals or a group of individuals own and run joint sector industries. An instance of a joint sector is Maruti Udyog Limited.