Answer:
Industries are classified based on different criteria
(i) Source of raw material
(ii) importance
(iii) capital
(iv) ownership
(v) weight of the raw material and finished goods.
(i) Based on raw materials
On the basis of source of raw materials industries are classified into Agro-based and Mineral-based. Examples of Agro-based industries - Cotton textiles Sugar Rubber Mineral-based industries Iron and Steel Aluminium industry.
(ii) Based on importance
Basic industry - Industries which are very important on which other industries depend e.g. Iron and steel. Consumer industries produce goods for consumption like paper utensils luxury items.
(iii) Basedon capital
Large-scale industries are those where the capital investment is more than one crore rupees like Iron and Steel Cotton textile whereas small-scale industries have investment of less than one crore rupees like manufacture of cycles fans.
(iv) On the Basis of ownership
Private sector owned by individual?s public sectors industries are owned and run by state or Central Govt. or its agencies e.g. Tata Bajaj Reliance. BALCO.
Joint sector - owned jointly by the state and individuals or group of individuals like Oil India Ltd. (OIL). Cooperative sector owned and run by producers or suppliers of raw materials workers or both e.g. DMS.
(v) Based on weight of raw materials and finished products
Heavy industries where both raw materials and finished products are heavy e.g. Iron and steel. Engineering industry. Light industries where both raw materials and finished products are light in nature e.g. Paper Aluminium Electrical industries
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