Iron and steel industry is a "Large scale industry".

Iron and steel industry is a "Large scale industry" because of the following reasons:

1. Capital Intensive: The production of iron and steel requires heavy investment in machinery, equipment, and infrastructure. Large-scale industries have the financial capability to make such significant investments. The establishment of blast furnaces, rolling mills, and other specialized machinery requires substantial capital, which small-scale or cottage industries may not be able to afford.

2. Economies of Scale: Large-scale industries benefit from economies of scale. They can produce goods in bulk, leading to lower production costs per unit. The iron and steel industry deals with massive quantities of raw materials, such as iron ore and coal. Large-scale production allows for efficient utilization of these resources, reducing the overall cost of production.

3. Technological Advancements: The iron and steel industry heavily relies on advanced technology and machinery to improve efficiency and productivity. Large-scale industries have the capacity to invest in research and development, adopting the latest technological advancements. This enables them to produce high-quality iron and steel products at a faster rate.

4. Market Demand: Iron and steel are essential commodities required in various sectors, such as construction, manufacturing, and transportation. Large-scale industries can cater to the growing market demand for iron and steel products. They have the capacity to produce a wide range of products in different sizes and specifications to meet the diverse needs of customers.

5. Employment Generation: Large-scale industries like iron and steel provide significant employment opportunities. The production process requires a skilled workforce to operate and maintain the machinery, handle the raw materials, and carry out various production activities. Large-scale industries create job opportunities for a large number of people, contributing to economic development.

In conclusion, the iron and steel industry is classified as a large-scale industry due to its capital-intensive nature, economies of scale, technological advancements, market demand, and employment generation. These factors distinguish it from small-scale or cottage industries, which have limited capital, production capacity, and technological capabilities.