Industrial Sector — Flashcards

Answer

The industrial sector is also known as the secondary sector. It includes all economic activities related to the production of goods through manufacturing, processing, and construction. For example, ma…

Answer

The industrial sector refers to economic activities concerned with the production of goods using raw materials. It includes industries like manufacturing, mining, construction, and energy. For example…

Answer

Before 2020, industries were classified by investment as: - Large Industries: ₹10–100 crore - Mega Industries: above ₹100 crore - Tiny Industries: up to ₹25 lakh - Ancillary Industries: up to ₹1 cror…

Answer

Industries are classified into: - Agro-based: use plant or animal-based raw materials. Example: cotton textile, sugar, jute. - Mineral-based: use minerals as raw materials. Example: iron and steel, ce…

Answer

Basic or key industries produce goods that are used as raw materials for other industries. They form the foundation of industrial development. Examples include iron and steel, aluminum smelting, and c…

Answer

Consumer industries produce goods that are directly used by consumers. These are final products ready for sale. Examples include toothpaste, paper, cosmetics, and sugar industries.

Answer

Intermediate goods are products used as inputs in the production of other goods. They undergo further processing. Examples: chemicals used in making soaps, and petroleum products used to make plastics…

Answer

In 2020, the government redefined MSMEs based on both investment and turnover: - Micro: Investment ≤ ₹1 crore, Turnover ≤ ₹5 crore - Small: Investment ≤ ₹10 crore, Turnover ≤ ₹50 crore - Medium: Inves…