Industry refers to an economic activity that is concerned with production of goods, extraction of minerals or the provision of services.
Classification of Industries:
It can be classified on the basis of raw materials, size and ownership.
- Based on the type of raw materials used by the industry, we can further classify them into:
- Agro Based Industry:
- It uses plant and animal based products as their raw materials.
- Eg: Diary products, Leather industries
- Mineral Based Industry:
- It uses mineral ores as their raw materials.
- Eg: Iron & Steel industry, Building materials industry
- Marine Based Industry:
- It uses products from sea and oceans as their raw materials.
- Eg: Sea food processing industry, Fish oil industry
- Forest Based Industry:
- It uses forest produce as their raw materials.
- Eg: Pharmaceutical industry, Paper industry
- Based on the amount of capital invested, number of people employed and the volume of production, we…
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