Industry
What is industry and requirement analysis
Industries are the most important of the modern economic activities of man. The industrial development of a country is also a major factor in determining the economic progress of any country. Industries are the hallmarks of modern civilization which not only supply us with necessities but also provide ample employment opportunities. Generally all human occupations involving the conversion of raw materials into finished goods are called industry.
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Industrial Uses:-
* Increases from foreign exchange industries.
* Satisfies human demand.
* Employment will be created.
* Transport and connectivity will improve.
* Resources are better used.
* The market will expand.
* National and per capita income will increase.
* Production increases.
* The humidity of the country will increase.
* Foreign trade, turnover will increase.
Aspects of Industrial Positioning
The following factors play an important role when industries are to be established in a region.
* Raw materials
* Energy resources
* Transportation and connectivity
* Weather
* Workers
* Banking facility
* Capital
* Market.
Types of industry
Industries are divided on the basis of their capital, production as follows.
1) Large scale industry
2) Medium scale industries
3) Small scale industries
4) Cottage / cottage industries
1) Large Scale Industry :-
Large-scale industries are large-scale industries that involve large numbers of workers, capital is also high, and output is high. This industry is divided in two ways
* Large Scale Industries :-
These are the industries which require minimum capital investment of more than 10 crores but less than 100 crores.
* Major Industries :-
100 crores are the industries which require capital investment. Example = Iron & Steel, Textile, Cement Factories
2) Medium Scale Industries :-
These industries invest between 2 crores to 10 crores and manufacture medium scale products using machines, employees and electricity are called medium scale industries.
3) Small Scale Industries :-
Factories having 10 to 50 workers on wage basis and producing using machinery and electricity are called small scale factories.
Example = Bicycle, sewing machines, soap
4) Home / Cottage Industries :-
Home industries are called cottage industries. Household/cottage industries are industries organized individually by family members using private resources or government assistance on a full-time or short-term basis.
Example = mat, incense stick, wax making.
Industries are divided into different types based on raw materials.
1) Agri based industries
2) Mineral based industries
3) Forest based industries
4) Chemical industries
An industry, group of productive enterprises or organizations that produce or supply goods, services or sources of income. In economics, industries are generally classified as primary, secondary, tertiary and quaternary; Secondary industries are further classified into heavy and light
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