Thus, the Tata Iron and Steel Industry can be classified as a mineral-based industry, a basic or key industry, a large-scale industry, labour-intensive industry, private sector industry and a heavy industry.
Small Scale Industries:
Small scale industries may be defined as industrial units with a capital investment of not more than Rs. 750,000, irrespective of the number of workers employed. Small scale industries occupy an important place in the economy of the country.
More than 30 million people work in these industries. Most small scale industries are located near urban centres. They produce goods for local as well as foreign markets.
Work is done with simple tools and equipment, some of which may be power driven. Financial assistance is provided by the government. The manufacture of bicycles, sewing machines, agricultural implements and tools, sports goods, soaps, storage batteries, electric fans, leather footwear and handloom weaving are some examples of small-scale industries.
Cottage industries arc small scale industries but distinguished from the other small scale industries on the basnis of location. Cottage industries are located in villages (they are usually located in the home of the producer and hence the name “cottage’ industries) while the small scale industries mentioned above are located near towns and cities.
Cottage industries include village industries and handicrafts industry since both is located in the village. Cottage industries play a very important role in the economy of the country’. About 40 million people are engaged in cottage industries, which include village industries and handicrafts.
Village industries are traditional in nature and depend on local raw’ material and cater to the needs of the local population. Processing of pulses and cereals and the manufacture of gur and khandsari are examples of village industries.
Some other examples of village industries are handloom, cane and bamboo baskets and other products, coir-making, shoe-making, pottery and leather tanning.
Handicraft industries include a large number of crafts backed by centuries of experience and skill. These products are mainly produced for markets outside of the villages, in large cities and for international market. Wood carving, inlay lacquer work, decorative furniture, metalware like bidri and filigree, artistic items made from horns and bones are examples of the handicraft industry. Rapid progress in science and technology, backed by rapid industrialization of the country will not only bring prosperity by raising our standard of living but will also make us self-sufficient and self-reliant.
This will enable us to maintain our political independence and pursue policies without being pressured in any way by other countries.