today I'm presenting concepts/terms in industrial sector.
Note: these concepts can also be considered for very short answers questions type answers. after the concept under --- symbol the explanation is presented.
SEZ
special economic zone (SEZ) IS A SPESIFICALLY DEELINITED duty free and clamed and shall be
deemed to be a foreign territory for the purpose of trade organizations and duties and is a
geographical region that has economic laws different from country. Specially established with an
objective to increase foreign investment and technology.
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So, these are established to promote foreign investment and technology.
Extractive Industry
extractive industry refers to extraction or drawing out goods from the soil, air or water is called as
extractive industries. mining industry, minerals oil industry, coal, ore, extraction of timber,
extraction of rubber from forests are some of the examples of extractive industry.
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These are the basic industries mainly concerned with extracting resources/material from the nature.
these industries provide main resources to several other industries.
Construction Industry
construction industry take-up the work of construction of buildings, bridges, roads, dams and etc.
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they mostly use raw material, resources from extractive industry, cement bricks etc.
Index of Industrial Production
the index of industrial production (IIp) comprises 3 components of industry. Mining, manufacturing
and electricity.
Textile Industry
textile industry covers a wide range of activities ranging from generations of raw material such as
jute, wool, silk, cotton, etc. They play a crucial role in trends and business.
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these industries changes the production process based on time, demand, environment etc.
Iron And Steel Industry
iron and steel industry is a very important one in the industrial and as well as the economic
development of the country. These industries manufacture the products relating to iron and steel.
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iron and steel are the main major material for any other product. so, they play a vital role in production and economic development.
I T industry
information technology (IT) is playing a very crucial role in India today. Now India is one of the
biggest I.T care centres of the modern world. It is providing direct employment to 2.8 million and
indirect employment to 8.9 million people.
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simply, IT industry deals with electronics and technology or software production/development.
Industrial Backwardness
industrial backwardness results in economic backwardness. Consequently the quality of life of the
people is very bad and poverty level is very high.
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Generally small scale industries face the major problems due to inadequate infrastructural facilities such as electricity, water, transport etc. they also face the competition from large scale industries. whereas, large scale industries face the major problems due to laws and changes.
Industrial policy resolution 1956
in view of some important changes in India that is, 2nd five year plan gave main importance for the
development of heavy industries. The constitution of India gave fundamental rights to its people and
directive principles to the state. By the adaption of Indian parliament in 1954 a resolution that for
good of economic policy is establish a socialistic pattern of society India, necessitate introduction of
new industries. Accordingly the government of India announced a new industrial policy on 30 April,
1956.
Industrial policy resolution 1997
in the march 1997 the Janata Party came to the power at the central level. On 23rd November 1997 the
janata government announced its new industrial policy. Small scale sectors, district industrial sectors, preference for handlooms, reduction in regional imbalances, special physical concessions
and take over of silk units are the main elements in this policy.
Industrial policy resolution 1980
the congress party again came into power in 1980 and announced its industrial policy on 25th July
1980. Revitalisation of public sector, economic federalism, redefining the small units, promotion of
rural industries, removal of regional imbalances, industrial sickness and regulation of unorganised
excess capacity are some of the features of this policy.
Cartage industries in India
Cartage industries occupy an important place in Indian economy. These industries provide some
gainful employment to the rural people. It can be organised and managed by family members.
Sickness problem
Industrial sickness is a detrimental factor for the growth of any developing economy because, more and more
industries like cotton, jute, sugar, textiles and engineering industries are effected by sickness
problem.
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as many developing economies depended on agriculture. if these industries got effected, the agriculture sales also will get effected.
Small industry development bank of India
the small industries development bank of India (SIDBI) offers refinance, rediscounting bills, lines of
credit and resource support mechanism to root assistance to small scale industrial units through
banks and state level financing institutions. SIDBI also offers direct finance for meeting specific
requirements of small industries. It undertakes a wide range of promotions and developmental
measures for rural poor.
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The end
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