Private sector enterprises

The private sector refers to parts of the economy that are run by private individuals or groups, rather than the state. It is characterized by private ownership and control, no state participation, private financing, and a profit motive. Major goals of the private sector include earning profits and quick decision making. Some limitations are that it provides no social welfare programs, guarantees, or protections against industrial disputes or risky situations. Examples of large private sector companies in India include Reliance Industries, Maruti, Infosys, and Tata Motors.