facts on industry sector

1. INDUSTRY SECTOR
INDIAN ECONOMY
Jeevitha.M,Shalini.R,Varsha.P
BA ECONOMICS
Date of Submission : 25-11-2021 SIGNATURE

2. INDEX :
➢ Industry sector 3
➢ Categorizations 4
➢ Interaction between industries 5
➢ Essence of industry 5
➢ Industrial production 6
➢ Characteristics 7
➢ Industry sectors 8
➢ Types of industry sectors 9
➢ Major industries 11
➢ Types of industries 14
➢ Industrial revolution 25
➢ Second industrial revolution 29
➢ Socio economic impacts 31
➢ Industrial development 32
➢ Importance of industrial development 34
➢ Reasons for developed sector 35
➢ Capital formation 36
➢ Importance of industries in indian
economy 37
➢ Fastest growing sector 39
➢ Profit sector 39
➢ Schemes in indian to develop
industry sector 40
➢ Reference from 41
➢ Conclusion 42
2

3. Industry Sector
❖ Industry refers to a much more specific group of companies or businesses, while the term sector describes a large segment
of the economy.
❖ The terms industry and sector are often used interchangeably to describe a group of companies that operate in the same
segment of the economy or share a similar business type. The term sector often refers to a larger, general part of the
economy, while the word industry is much more specific.
❖ An industry – or sector – is the whole of all economic activities by companies, people, and organizations involved in the
production of goods and services for a particular field.
❖ Industries are usually categorized by the goods and services they produce.
❖ The industrial sector of the economy is one that make finished products which can then be utilized viz. construction and
manufacturing industry. Industrial sector is also known as secondary sector.
❖ Industrial sector or secondary sector is one of the 3 sectors that make up a country’s economy. The other two are the primary
sector (includes agriculture, fishing, and mining) and service sector (includes hospitality, consultancy and nursing).
❖ Secondary sector is one that makes a complete product which can then be utilized. Examples of industrial sector are
manufacturing industry and construction.
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4. CATEGORIZATIONS
❖ Industries are organized under different categories. The categories are grouped as to whether they are:
* Heavy vs light
* Domestic vs foreign
* Durable and non durable
* Manufacturing or construction industries
Industry Heavy vs light
Domestic vs
foreign Durable and non
durable
Manufacturing or
construction
industries
Automobile heavy Depends Durable Manufacturing
Food and Services light Depends Durable Manufacturing
Clothing light Depends Non-durable Manufacturing
Mining heavy Depends Durable Construction
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5. Interactions Between Industries
❖ All industries use material inputs from other sectors and factor inputs from the general economy and
convert them into a finished product using the production process.
❖ Using the previous pizza example, a pizza producer uses material inputs from producers of other
sectors.
❖ This includes cheese from dairy producers or vegetables from farmers.
❖ They would also use factor inputs from the general economy – pizza makers from the labor market – to
create the finished product, pizza.
Essence of industry
● BUSINESS
● COTTAGE INDUSTRY
● Heavy industry
● Light industry
● Manufacturing
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6. Industrial Production
A country’s level of industrial production is a key indicator of economic performance.
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7. Characteristics
❖ Industrial sector usually accepts the primary sector end product and then applies them to
construct completed products that are then either purchased by the end user or sent for
further processing or fabrication.
❖ The industrial or secondary sector can be classified into two types: heavy industry and light
industry.
❖ Most industries transform raw materials into finished products.
❖ Large quantities of energy are consumed to run the process.
❖ Manufacturing industries tend to generate pollution and are the source of environmental
problems.
❖ Construction is making a building or the fabrication of infrastructure.
❖ Effective planning is required for successful execution.
❖ The activity requires a mastery of multitasking.
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8. Industry sectors
● Primary sector of the economy (the raw materials industry)
● Secondary sector of the economy (manufacturing and
construction)
● Tertiary sector of the economy (the "service industry")
● Quaternary sector of the economy (information services)
● Quinary sector of the economy (human services)
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9. Types of Industry sector
● Primary sector
● Secondary sector
● Tertiary sector
Primary sector :
* Primary sector includes all those activities.
* The end purpose of which consists in exploiting natural resources.
Eg: agriculture,fishing,forestry
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10. Secondary sector
It includes that produce a finished usable product or are involved in construction
Eg :heavy manufacturing, light manufacturing,oil refining
Tertiary sector
It is the sector of economy concerned with or relating to tertiary industry
Eg : tourism,finance,sales
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11. Major industries
Industries are majorly classified under :
* Agriculture
* Manufacturing
* Services
Agriculture
Fishing industry
Horticulture industry
Tobacco industry
Wood industry
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12. Manufacturing
The manufacturing industry comprises a wide variety of production of goods, ranging from low tech and low labor skills for the process.
There are many areas that requires intense and stunning technology to be achieve;
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13. Services
The service industries are :
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14. Types of industries
There are many kinds of industries you can pursue based on your interests and preferred responsibilities. Here are some common
types of industries
Advertising and marketing
Advertising and marketing industries typically focus on promoting products to audiences through paid and organic efforts.
Employees understand how to attract audiences and publish campaigns using media and print outlets.
Careers to consider include:
● Creative director
● Copywriter
● Graphic designer
● Marketing coordinator
● Social media coordinator
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15. Aerospace
In the aerospace industry, employees research, develop and manufacture flight vehicles. They aim to make
flight—whether in helicopters, planes or rockets—safe for travelers and employees involved with aviation. Many
elements go into this industry, like testing, selling, maintaining, repairing, building and designing various flight
machines. Several small companies focus on making aircraft components and selling them to larger
manufacturers.
Careers to consider include:
● Aeronautical engineer
● Aircraft designer
● Aircraft mechanic
● Aviation manager
● Pilot
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16. Agriculture
The agriculture industry typically focuses on cultivating plants, land and animals to make foods, drinks and other essential items. As technology grows, this industry
continues to modernize, allowing farmers to naturally and safely grow more plants. Researchers and scientists within this industry regularly develop innovative ways
to create a stronger ecosystem. Those who work in this industry usually produce, sell or export agricultural items and goods to various businesses.
Careers to consider include:
● Agronomist
● Farmer
● Food inspector
● Landscape designer
● Wildlife biologist
Computer and technology
The computer and technology industry typically focuses on fixing and repairing computer hardware systems, developing or updating new applications and enhancing
business networking and software systems. The industry usually interacts with other industries to improve efficiency and productivity levels. For instance, the
healthcare industry adapts many computer systems to store patient records and request medication orders from pharmacies.
Careers to consider include:
● Application developer
● Computer programmer
● Information security analyst
● Software engineer
● Web developer
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17. Construction
The construction industry consists of employees who build certain houses, buildings or other structures for residents, businesses or community
members. It is regularly adapting to technology advancements to more efficiently build safe, quality structures. These advancements also help them
complete more complex tasks like constructing skyscrapers or conducting inspections on areas of bridges or buildings that are difficult for
construction workers to reach.
There are different types of construction work that can fit into the construction industry sector. The three main categories include:
● General construction: Those who construct buildings, residential properties or houses are typically completing general construction
projects.
● Specialized construction: This type of construction typically requires more expertise in a certain aspect of construction, such as
woodworking, concrete or electrical construction.
● Heavy construction: Employees who build bridges or roads and construct other larger construction tasks typically fall into the heavy
construction category.
Careers to consider include:
● Brickmason
● Concrete laborer
● Construction worker
● Electrician
● Equipment operator 17

18. Education
The education industry comprises all academic institutions including elementary schools, middle schools, high schools, colleges, universities, learning institutes and
technical schools. It also includes both public and private institutions. Public institutes receive government funding while a single person or group of people run and
fund private institutions.
Careers to consider include:
● Academic advisor
● Daycare teacher
● Professor
● Special education teacher
● Teacher
Energy
The energy industry handles matters like renewable and nonrenewable energy to improve the environment and enhance the cost efficiencies of most businesses.
Various operations within the energy field include manufacturing, refining and extraction. Other companies that may fall within the energy sector are nuclear power,
coal energy and electric power, which are all an essential part of improving the environment.
Careers to consider include:
● Energy engineer
● Environmental technician
● Solar consultant
● Urban planner
● Wind turbine technician 18

19. Entertainment
The entertainment and music industry is one of the largest industries in the world. Different types of entertainment within this industry include sports, music,
theater, movies, television and web series. This industry usually contains a mixture of performers, crew members and management working together to make the
entire industry operate smoothly.Since there are so many employees in this industry, it can typically be more challenging to earn a job in this industry than others.
Careers to consider include:
● Actor
● Booking agent
● Film crew
● Photographer
● Theatre manager
Fashion
Employees in the fashion industry focus on areas like marketing, supply chain, e-commerce, media and manufacturing clothing apparel, jewelry, accessories,
cosmetics and footwear. They may sell products within the fashion industry to small business store owners, larger supply chains or popular department store
locations.There are employees within this industry who may design these apparel and merchandise items while others focus on purchasing and reselling them.
Careers to consider include:
● Buyer
● Fashion designer
● Merchandiser
● Stylist
● Textile designer 19

20. Finance and economic
The finance and economic industries handle various aspects of money management and can include areas like banking, corporate finance, public finance, personal
finance, investing and asset management. Some employees may work primarily in banks helping others responsibly handle their finances while others may focus
solely on keeping businesses financially stable.Many employees in this industry must remain aware of economic conditions and trends to provide valuable financial
advice to their clients.
Careers to consider include:
● Certified public accountant (CPA)
● Financial analyst
● Financial planner
● Investment banker
● Private equity associate
Food and beverage
The food and beverage industry involves preserving, processing and serving food items. This industry typically works with those in the agriculture industry to
receive ingredients from them. They then use these ingredients to create different food and beverage items. Food and beverage employees may also take these food
items and process them by adding chemicals and colors to preserve their taste.The food and beverage industry has significantly grown due to the high demand for
quick and processed foods.
Careers to consider include:
● Bartender
● Executive chef
● Line cook
● Restaurant manager
● Sommelier
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21. Health care
Employees who work in the healthcare industry focus on providing diagnostic, preventative, curative, therapeutic and rehabilitative care to patients to keep them in
stable health conditions. The key objective of the healthcare industry is to prevent and treat any injuries, illnesses or illnesses patients may have.
Careers to consider include:
● Biomedical engineer
● Dentist
● Physician
● Physician assistant
● Registered nurse
Hospitality
The hospitality industry works closely with customers to provide a satisfying and unique experience. Employees within this industry typically offer services to meet
people's preferences rather than their needs like in the healthcare industry. The main categories within the hospitality industry are travel, tourism and food and
beverage.Businesses like bed and breakfasts, hotels, motels, restaurants and travel agencies typically belong to the hospitality industry.
Careers to consider include:
● Event specialist
● Front-desk agent
● Hotel manager
● Spa manager
● Travel agent
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22. Manufacturing
In the manufacturing industry, employees convert raw components and materials into final products which they sell to companies. Businesses will then take these
products and market them to consumers for profits. There are several categories within the manufacturing sector, including wood, leather, paper, textile,
transportation equipment and many other materials used to make products. Manufacturing employees usually work in plants, factories or mills.
Careers to consider include:
● Assembler
● Manufacturing technician
● Packaging engineer
● Welder
● Woodworker
Media and news
The media and news industry aims to provide essential news to community members and individuals locally and worldwide. Employees typically publish these news
stories in outlets like television, radio, online articles, websites, social media, newspapers or podcasts.As technology evolves, more forms of media will become
available to consumers which means more jobs in this industry should continue to appear.
Careers to consider include:
● Broadcaster
● Journalist
● Producer
● Social media specialist
● Video editor
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23. Mining
The mining industry is an older industry that handles the location and extraction of metals and other natural resources from the earth's surface.
This includes coal, oil and natural gas, rock, and other materials. Mining organizations operate all over the world to provide materials for jewelry
and other commercial items.
Careers to consider include:
● Coal miner
● Geologist
● Mining engineer
● Petroleum engineer
● Roustabout
Pharmaceutical
Pharmaceutical companies research, develop and sell medicine and other drugs to patients, physicians and insurance companies. This industry
focuses heavily on research and development to create new and innovative medications to safely improve patients' health and well-being. Employees
within this industry spend a significant amount of time researching, creating and selling drugs to cure diseases or treat symptoms for both people
and animals.
Careers to consider include:
● Chemist
● Nuclear pharmacist
● Pharmaceutical manufacturer
● Pharmacist
● Pharmacologist
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24. Telecommunication
Companies in the telecommunications industry construct, install and repair common communication devices like cell phones, cable or internet. The telecommunication industry
allows individuals to communicate with others and send information to and from several parts of the world using audio or visual devices.Many organizations within this industry
are internet service providers, cable and satellite companies and wireless internet service providers.
Careers to consider include:
● Cable installer
● Data analyst
● Systems manager
● Telecommunications engineer
● Telecommunications operator
Transportation
Transportation is a large industry handling the movement of people, items and animals using various modes of transportation like trains, trucks, planes and boats. The
transportation industry continues to grow, and it includes a wide range of career opportunities for different skill levels, schedules, interests and abilities.Companies will always
need to move goods and products and people will always have places they need to go. This makes the transportation industry a fairly secure industry to pursue a career in.
Careers to consider include:
● Distribution manager
● Supply chain specialist
● Traffic controller
● Transportation engineer
● Truck driver 24

25. Industrial Revolution
❖ The Industrial Revolution was the transition to new manufacturing processes in Britain, continental
Europe and the United States, in the period from about 1760 to sometime
between 1820 and 1840.
❖ This transition included going from hand production methods to machines,
new chemical manufacturing and iron production processes, the increasing use of
steam power and water power, the development of machine tools and the rise of the mechanized
factory system.
❖ The Industrial Revolution also led to an unprecedented rise in the rate of population
growth.
❖ Textiles were the dominant industry of the Industrial Revolution in terms of employment, value of
output and capital invested.
❖ The textile industry was also the first to use modern production methods
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26. ❖ The Industrial Revolution began in Great Britain and many of the
technological and architectural innovations were of British origin.
❖ By the mid-18th century Britain was the world's leading commercial
nation,controlling a global trading empire with colonies in North
America and the Caribbean, and with major military and political
hegemony on the Indian subcontinent, particularly with the
proto-industrialised Mughal Bengal, through the activities of the East
India Company.
❖ The development of trade and the rise of business were among the
major causes of the Industrial Revolution
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27. ❖ In particular, average income and population began to exhibit
unprecedented sustained growth.
❖ Some economists have said the most important effect of the
Industrial Revolution was that the standard of living for the
general population in the western world began to increase
consistently for the first time in history, although others have
said that it did not begin to meaningfully improve until the late
19th and 20th centuries
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28. ❖ GDP per capita was broadly stable before the Industrial Revolution
and the emergence of the modern capitalist economy, while the
Industrial Revolution began an era of per-capita economic growth in
capitalist economies.
❖ Economic historians are in agreement that the onset of the Industrial
Revolution is the most important event in the history of humanity
since the domestication of animals and plants
❖ Mechanized textile production spread from Great Britain to continental Europe
and the United States in the early 19th century, with important centres of
textiles, iron, and coal emerging in Belgium and the United States and later
textiles in France
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29. Second Industrial Revolution
❖ The Second Industrial Revolution, also known as the Technological Revolution, was a
phase of rapid standardization and industrialization from the late 19th century into the
early 20th century.
❖ The First Industrial Revolution, which ended in the middle of the 19th century, was
punctuated by a slowdown in important inventions before the Second Industrial
Revolution in 1870.
❖ Though a number of its events can be traced to earlier innovations in manufacturing, such
as the establishment of a machine tool industry, the development of methods for
manufacturing interchangeable parts, and the invention of the Bessemer process to
produce steel, the Second Industrial Revolution is generally dated between 1870 and 1914
(the beginning of World War I)
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30. ❖ Advancements in manufacturing and production technology enabled the
widespread adoption of technological systems such as telegraph and railroad
networks, gas and water supply, and sewage systems, which had earlier been
concentrated to a few select cities.
❖ The enormous expansion of rail and telegraph lines after 1870 allowed
unprecedented movement of people and ideas, which culminated in a new wave
of globalization.
❖ In the same time period, new technological systems were introduced, most
significantly electrical power and telephones.
❖ The Second Industrial Revolution continued into the 20th century with early
factory electrification and the production line, and ended at the beginning of
World War I.
❖ Vaclav Smil called the period 1867–1914 "The Age of Synergy" during which most
of the great innovations were developed since the inventions and innovations were
engineering and science-based
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31. Socio-economic impacts
❖ The period from 1870 to 1890 saw the greatest increase in economic
growth in such a short period as ever in previous history.
❖ Living standards improved significantly in the newly industrialized
countries as the prices of goods fell dramatically due to the increases in
productivity.
❖ This caused unemployment and great upheavals in commerce and industry,
with many laborers being displaced by machines and many factories, ships
and other forms of fixed capital becoming obsolete in a very short time span
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32. Industrial development
❖ Industrial development encourage the development of science and
technology
❖ The industrial enterprises conduct research and develop new product
Eg : ethanol in the form of biofuel
❖ Industry conduct research on its waste and development by products
Eg : biodiesel from jatropha seeds
❖ Due to industrialisation we have made progress in atomic,satellite
communication and missiles etc
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33. ❖ The main sectors of industrialisation today are electronics, transport and
telecommunication.
❖ Compared to advanced countries, there is very little industrialisation in India.
❖ About 10 percent of the total workers are employed in the organised
industrial sector.
❖ Both private and public sectors have grown side by side since independence.
❖ Large-scale industries started in the first fifteen years of planning in India. Rate of
industrial growth was fluctuating between 2 to 12 per cent.
❖ However, we have observed a steady industrial progress after 1967.
❖ The enduring factors which have contributed to the growth are vast natural
resources, economic surplus, large labour force, high urban concentration,
concentration of surplus within a small social group, availability of trained
personnel, a stable political structure, powerful means of state economic control,
etc.
❖ Currently, the growth rate is around 8 per cent. Today, India is one of the top
developing countries compared to the countries of Africa and South America.
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34. Importance of industrial development
❖ Industrial development unleashes dynamic and competitive economic
performance which generates income and employment facilities international
trade and increases resource efficiency and is thus a major driver of poverty
abbreviation and shared prosperity
❖ The development of various industries leads to direct increase in production
and productivity within the country. Industries create an environment where
more manpower's are utilized. Hence, the surplus labour from agriculture can
easily absorb within the industries bring more income opportunities in the
country.
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35. Reasons for developed sector
❖ Urbanisation - urbanisation has been closely linked to increasing income per capita
❖ This relationship is consistent with general historical patterns
❖ The correlation between urbanisation and growth is so strong that urbanisation is often used as a
proxy far income per capita in comparison of development across time and space
❖ The reasons for the increase of Industry Growth Rate in India GDP are that huge amounts of
investments are being made in this sector and this has helped the industries to grow.
❖ Further the reasons for the rise of the Growth Rate of the Industrial Sector in India are that the
consumption of the industrial goods has increased a great deal in the country, which in its turn
has boosted the industrial sector.
❖ Also the reasons for the increase of Industry Growth Rate in India GDP are that the industrial
goods are being exported in huge quantities from the country.
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36. Capital formation
● Acute deficiency of capital is the main problem of indian economy
● In agriculture sector,the surplus is small
● Its mobilisation is also very difficult
● In large scale industries the surplus is very high
● By using external and internal economies industry can get higher profit
● These profits can be reinvested or expansion and development
● So industrialisation helps in capital formation
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37. Importance of industries in indian economy
❖ Rapid growth of income
The first and th foremost argument in favor of industrialization is that it can provide a base for rapid
growth of income.It is because of the fact that that productivity rates are higher in industry than in
agriculture. Industries mainly depend on man;'s effort while agriculture is restricted by th limiting factor of
the nature. It is also seen that the Industrialized nations have a high per capita income.
❖ Employment
With the increasing population agriculture is unable to provide for employment. Hence it is very
important to set up industries to absorb this surplus labor.Hence industries can solve the problem of
unemployment.
❖ Exploitation of resources
Industries are capable of utilizing all the resources present in the economy. They can even make use of
scraps and waste materials. Agriculture cannot make use of all the resources.
❖ Foreign exchange
India cannot earn adequate foreign exchange from the exports of its primary products. It is because of
the fact that the demand for such products is very low in other countries. Industrial exports need to be added
to the primary products. 37

38. ❖ Development of agriculture
The requirements of agriculture are met by the industries in large. Agriculture requires improved farm machinery,
chemical fertilizers and pesticides. It also requires storage and transport facilities. All these are adequately provided
by our own industries.
❖ Balanced development
Ours is an unbalanced economy. Our greater dependence on agriculture has made us poor. With the industrialization in
the economy this disparity can be removed. If agriculture is the backbone of the economy, industry is the energy.
❖ Self-sustained growth
The rapid development of capital goods industries promote the growth of agriculture, transport and communication. It
also enables the country to produce a variety of consumer goods in large quantities and at low costs.It also eliminates
our dependence on other countries for the supply of essential goods.
❖ Nation's security
Dependence on foreign countries for defense goods is always risky affair. We do not have good relations with our
neighboring countries especially Pakistan and China.
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39. Fastest growing sector
❖ The industry sector was the fastest growing sector in one year and the
agriculture sector was the growing sector in two year
❖ The service sector has the lowest growth rate among the three sector
Profit sector
❖ The service sector is the largest sector of india
❖ Gross value added at current prices for the services is estimated at 96.54 lakh
core INR in 2020-21
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40. Schemes in india to develop industrial sectors
❖ Prime minister employment generation programme(PMEGP)
❖ Credit guarantee trust fund for micro & small enterprises (CGTMSE)
❖ New Industrial Policy' 1991
❖ Production-Linked Incentive Scheme (PLI)
❖ Market Promotion & Development Scheme (MPDA)
❖ Revamped Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
❖ Export Market Promotion (EMP)
❖ Domestic Market Promotion (DMP)
❖ Trade and Industry Related Functional Support Services (TIRFSS)
❖ Welfare Measures (Pradhan Mantri Suraksha Bima Yojana (PMSBY)
❖ A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship
(ASPIRE)
40

41. Reference from
➢ www.makeinindia.com
➢ www.meity.gov.in
➢ business.mapsofindia.com
➢ www.investopedia.com
➢ www.indiastudychannel.com
➢ www.yourarticlelibrary.com
➢ en.wikipedia.org
➢ www.indeed.com
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42. Conclusion
❖ As the above report shows we can conclude that, the industry sector is
developing.
❖ Also, our government schemes have made the industry sector develop year by
year.
❖ As the industrial sector provides more employment and it contributes more
part to national income it is important to introduce more schemes and develop
the industry sector year after year.
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