The following is also known as 'Sunrise industry':a) Iron and steel i...
The correct answer is option 'D' - All of the above.
Sunrise industry refers to an industry that is in the early stages of its development and is experiencing rapid growth and expansion. These industries have a high potential for future growth and are often associated with technological advancements and innovation. The term "sunrise industry" is often used to describe industries that emerge as a result of changing consumer preferences, new market opportunities, or advancements in technology.
Explanation:
1. Iron and steel industry:
The iron and steel industry is considered a sunrise industry because it plays a crucial role in the economic development of a country. It is involved in the production of raw materials, such as iron ore and coal, and the manufacturing of steel, which is used in various sectors like construction, automotive, infrastructure, and machinery. With increasing urbanization and industrialization, the demand for iron and steel is expected to grow, making it a promising industry for future growth.
2. Cotton textile industry:
The cotton textile industry is another example of a sunrise industry. It involves the production of textiles and garments using cotton as the primary raw material. This industry has seen significant growth due to factors such as increasing population, rising disposable incomes, changing fashion trends, and technological advancements in textile manufacturing. The demand for cotton textiles is expected to continue growing, making it a lucrative sector for investment and expansion.
3. Information technology industry:
The information technology (IT) industry is one of the most prominent sunrise industries globally. It encompasses the development, management, and use of computer-based information systems and software applications. The IT industry has witnessed exponential growth due to advancements in technology, globalization, and increasing digitalization. It has revolutionized various sectors, including communication, e-commerce, finance, healthcare, and entertainment. The demand for IT services and products is expected to grow further as society becomes increasingly dependent on technology.
Conclusion:
All of the above industries, namely iron and steel, cotton textile, and information technology, are considered sunrise industries due to their potential for future growth and expansion. These industries are driven by factors such as changing consumer preferences, technological advancements, and market opportunities. Investing in these industries can be lucrative and contribute to the overall economic development of a country.
The following is also known as 'Sunrise industry':a) Iron and steel i...
- Sunrise industry is a colloquial term for a burgeoning sector or business in its infancy stage, showing a rapid boom.
- Sunrise industries are typically characterized by high growth rates, numerous start-ups, and an abundance of venture capital funding. These industries generate a lot of "buzz" as investors' interest in its long-term growth prospect, and public awareness increases.
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