Question
Download Solution PDFWhat is the characteristic of a small-scale industry?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is "It is generally a labor-intensive unit".Key Points
- Small-scale industries:
- Industries in which manufacturing, production, and servicing of goods are done on a small scale.
- The total investment of these types of industries does not exceed over 1 crore.
- Small-scale industries have single ownership.
- These industries are labor intensive so there is only limited use of technology.
- These work in local areas and fulfill the demands of locals.
Additional Information
- Large-scale industries:
- have a huge infrastructure, and raw materials and require large numbers of workers.
- The capital requirement is also large and industries that have fixed assets of more than 10 crores are considered large-scale industries.
- There are several large-scale industries in India like Iron and steel, automobile, textile, silk industry, etc.
- These industries use the latest technology and machines.
- Their contribution to the country's economy is also huge.
- These require skilled workers that provide employment.
Last updated on May 28, 2025
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