Secondary Industry

Introduction

Secondary industry either 

1. Processes raw materials given by primary industries into consumer goods, 
2. Further processes items that have been changed into products by other secondary industries, or 
3. Constructs capital assets needed to create consumer and non-consumer goods. Energy-producing businesses (such as hydroelectric industries) and the building sector are examples of secondary industries.

Let us look at the secondary industry’s definition. The secondary industry is in charge of obtaining raw resources and converting them into viable commodities consumed by consumers in the consumer market. It encompasses a wide range of businesses that are involved in the building or the creation of a usable and completed product. The secondary industry is responsible for selling and exporting the main industry’s output. Heavy manufacturing, light manufacturing, food processing, oil refining, and energy generation are examples of secondary industries.

Secondary Industry and its Types 

The following are the two subcategories of secondary industries:

• Manufacturing Industry 

Manufacturing industries process raw resources to manufacture items, increasing the value of the raw material. Manufacturing sectors produce either finished items that we consume or partially finished products used as a bridge between industries. The manufacturing industry is further divided into the following categories:

• Analytical Industry: Analytical industry is the industry that analyses and separates distinct constituents from the same substance. An oil refinery is a good example of an analytical industry.
• Synthetic Industry: The synthetic industry blends several raw materials to create a product. The cement industry exemplifies synthetic business.
• Processing Industry: The processing industry refers to the industry that entails many phases of creating completed goods. The processing sector includes industries such as sugar and paper.
• Assembling Industry: The assembling industry refers to putting together various components to create a finished product. Assembling industries include the television and computer industries. In some circumstances, the manufacturer does not make any components; instead, the manufacturer just assembles them.
• Construction Industry

Construction industries are involved in constructing structures such as buildings, dams, bridges, highways, tunnels, and canals. In this industry, engineering and architectural abilities are crucial.

The contributions of the secondary industry to the Indian economy 

• India’s secondary sector accounts for 20% of the country’s overall gross domestic output.
•  Individuals are employed.
•  It offers clients clothing, rice, copper, and metal.
•  The economy’s secondary industry aids in the expansion of the primary sector. 

Progress is measured in the manufacturing industry by increases in the gross domestic product and economic production. 

Advantages of Secondary Industry 

The following are some of the benefits of secondary industries:

• Secondary industries have aided in the creation of job prospects. After farming, it provides most individuals with a source of income.
• This industry’s manufacturing and production operations result in the finished things we have in our homes. These items have aided us in making our lives easier.
• Secondary industries have aided in the advancement and riches of a country. When individuals have had their fill, they are more likely to pay higher taxes. The government spends this money on the well-being of its citizens.
• Secondary industries have contributed to industrialization, which has resulted in fewer imports and more exports. It promotes higher foreign exchange earnings and consequently increases the country’s prosperity.

Drawbacks of Secondary Industry 

• The major disadvantage of secondary industries is that they have caused unprecedented pollution. The toxic gas that has been emitted throughout time has had a significant role in climate change.
• Garbage is polluting our rivers and lakes. It is how we distinguish between primary and secondary sectors, with primary sectors being more environmentally friendly.
• Workers prefer the secondary sector over the primary sector because there is more money and opportunity here. It creates a void that might lead to a labour shortage in the agricultural industry.
• Secondary industries, which make a rich person richer and a poor person poorer, are to blame for the widening divide between rich and poor.

Secondary industry characteristics

• Labour and capital are both expensive.
• Heavy industries are located outside metropolitan areas, whereas light industries are located within them.
• Its survival is reliant on the basic industry.

Conclusion

Secondary industry is the economic category that encompasses all industries responsible for producing a usable completed product and are involved in building. 

It is a country’s most significant economic sector. Countries that rely on agriculture for primary-sector activities move more slowly than those that rely on secondary-sector activities. As a result, the secondary sector accounts for a significant portion of the gross domestic product since it is responsible for creating goods and serves as the engine of a country’s economic growth.