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Explain the classification of industries?
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Explain the classification of industries?
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Explain the classification of industries?
Classification of Industries


Industries can be classified based on various criteria such as raw materials used, size and scale of operation, ownership, nature of the product, and technology used. The following are the different types of classifications of industries:


Classification based on Raw Materials Used



  • Agro-based industries

  • Mineral-based industries

  • Forest-based industries

  • Fishing-based industries



Classification based on Size and Scale of Operation



  • Cottage Industries

  • Small-scale industries

  • Large-scale industries



Classification based on Ownership



  • Private sector industries

  • Public sector industries

  • Joint sector industries

  • Cooperative sector industries



Classification based on Nature of the Product



  • Consumer goods industries

  • Capital goods industries

  • Intermediate goods industries



Classification based on Technology Used



  • Heavy industries

  • Light industries

  • High-tech industries

  • Low-tech industries



These classifications help in understanding the various types of industries and their specific characteristics. Each type of industry has its unique requirements and challenges, and identifying these can aid in the formulation of appropriate policies and strategies for their growth and development.
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Explain the classification of industries?
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