Industrial Development


 
 
Concept Explanation
 

Industrial Development

Industry

Industry refers to an economic activity concerned with the processing of raw materials and manufacturing of goods in factories. Industries are often classified based on their principal product e.g. steel industry, automobile industry, textile industry, etc. The products of industries can be consumer goods (goods, which are finally consumed by consumers) like textiles, cosmetics etc., or producer goods (goods used by manufacturers for producing some other goods) like machinery, tools, equipment, etc.

Industrial Development

The concept of 'Industrial Policy' is comprehensive and it covers all those procedures, principles, policies rules and regulations which control the Industrial undertakings of a country and shape pattern of industrialization. It incorporates fiscal and monetary policies, the tariff policy,

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