Three Types of Industries

The term industry is used for exercises within which mechanical apparatuses and specialized skills are concerned. Enterprises may well be separated into 3 general classifications of industries in India: primary, secondary, and tertiary.

Primary Industry

Primary industry refers to the first sector which comprises the first stage of the production cycle and includes agriculture, fishing, hunting, and other activities. The primary sector involves simple methods and does not inculcate sophisticated methods for the production or distribution of goods and services. Basic needs are provided by them for humans and this sector uses minimum technology for the cultivation of products. This sector can be divided into:

1. Genetic Industry
2. Extractive Industry

Secondary Industry

The secondary industry refers to the industries which process the raw material into more useful and consumption-based products for people and convert raw materials to more refined as well as useful forms. This is for increasing the market value of the products and also for preparation of more useful and for increasing value of a product. The secondary industry hence plays a crucial role in adding value to raw materials and marketability of goods. They involve in refining products, rather than producing them. Two types of secondary industries are:

1. Heavy industry
2. Light industry

Tertiary Industry

The tertiary sector is involved in the economic sector for the provision of services that are not directly related to the production or processing of raw materials. Tertiary activities include banking, retailing, and other services. Tertiary industries do not produce tangible goods but intangible goods and include professionals like professors, educators, hairdressers, etc. The tertiary sector is divided into two sectors:

1. The profit includes companies and businesses which make money.
2. The non-profit sector includes public education.

Classification of Industries in India: Industries refer to the economic apparatus whose main purpose and motive is for the production as well as distribution of goods as well as services. The development, as well as the growth of this, is mostly in a linear way and industries are prime for any economy because they are singlehandedly important for manufacturing goods and services that fit the demand in the market. The size of industries is categorized based on their benefits as well as shortcomings, as large initial investments are required but also yield much more profit than smaller industries.