Classification of Industries
Based on Raw Materials Used
- Primary Industries:
- These industries are involved in the extraction and production of raw materials from natural resources. They form the basis for other industries.
- Examples: Agriculture, mining, fishing, forestry, and oil extraction.
- Secondary Industries:
- These industries involve the processing of raw materials into finished goods or products. They add value to raw materials.
- Examples: Manufacturing industries like textiles, steel, automobile, and construction.
- Tertiary Industries (Service Industries):
- These industries provide services rather than goods. They help in the distribution, marketing, and support of goods and services.
- Examples: Banking, education, healthcare, retail, transportation, and IT services.
Based on Size of the Industry
- Large-Scale Industries:
- These industries require a large investment of capital and produce goods on a large scale, often for mass markets.
- Examples: Steel manufacturing, petrochemicals, heavy engineering, automobiles.
- Small-Scale Industries:
- These industries require relatively smaller capital investments and usually cater to local or regional markets.
- Examples: Handloom textiles, food processing, local handicrafts.
- Micro Industries:
- These are the smallest type of industries, usually run by individuals or small groups with minimal investment and workforce.
- Examples: Small businesses, cottage industries, local service providers.
Based on Ownership
- Private Sector Industries:
- Owned and operated by private individuals or corporations.
- Examples: Reliance Industries, Tata Group, Infosys.
- Public Sector Industries:
- Owned and operated by the government of India or its agencies.
- Examples: Bharat Heavy Electricals Limited (BHEL), Steel Authority of India Limited (SAIL).
- Joint Sector Industries:
- These industries are owned and managed jointly by the government and private entities.
- Examples: Oil India Limited, Maruti Suzuki India.