Classification of Industries
The industries are based on raw materials, size, and ownership. More details related to the different types of industries are given below:
- Raw Material Industries: The agro-based industries like mineral-based, marine-based, and forest-based depending on the type of raw materials they use are called raw material industries.
- Industries Based on Size: Size-based industries refer to the amount of capital invested, the number of people employed, and the volume of production.
- Ownership: Based on ownership can be classified into the private sector, state-owned or public sector, joint sector, and cooperative sector.