Indian Entrepreneurs and Types of Industries

According to the dictionary, the meaning of industry refers to manufacturing productive enterprises collectively, especially as distinguished from agriculture. This implies that a single industry comprises a set of manufacturing in a particular field, region, or economy viewed collectively but is not related to farming or agriculture. Examples of different types of industries in India include the automobile industry, textile industry, tourism, entertainment industry, etc. Also, the food processing industry in Pune or the IT industry in Bengaluru/Mysore is a regional industry whose progress and performance will be different in different regions within a particular industry.

Different Types Of Industries In India (Based On Economics):

There are three categories of Industries in India:

Primary Sector- Agriculture

Agriculture is considered the backbone of the Indian economy, and it occupies an important place in the Indian economic growth. In India, the major population is engaged in agriculture, which is the major source of livelihood in the Indian economy. 

On The eve of independence, more than 70% of our country’s population depended on the agricultural sector for their living. 

It is a large sector of economic activity and has a crucial role to play in the country’s economic development by providing food and raw materials, employment to a very large proportion of the population, capital for its development, and surpluses for national economic development.

Secondary Sector- Industry

The home Industry refers to any economic activity concerning the production of goods, extraction of minerals, and provision of services, e.g. the automobile industry. Industries are involved in processing raw materials to promote valuable products in large quantities.

Industrialisation refers to the process of establishment and advancement of manufacturing industries. However, the process of industrialisation is not only dependent on the establishment of a manufacturing industry but also entails a change in the whole economic structure of the country concerned with the objective of bringing and expediting economic development in the country. 

Tertiary Sector- Service

The social and economic development of the region is majority dependent on the service. Tertiary sector service is the largest and the most dynamic part of the economy of India, both in terms of contribution to national income and employment potential. Here is a list of Industries in India that come under tertiary sectors such as trading, storage, insurance, transportation, communication, financial, real estate and business services, and other services (consisting of various types of professional services such as services of lawyers, teachers, etc.) as well as community, social and personal services. 

Here is a list of industries in India that comes under the tertiary sector:

• Telecommunication
• Hospitality industry/tourism
• Mass media
• Healthcare/hospitals
• Public health

Indian Entrepreneurs

India has a lengthy history of entrepreneurial endeavours, each of which has a flavour uniquely that can say India’s own. Instead of beginning their careers by establishing technology companies, many Indian entrepreneurs emerged from hardworking and humble beginnings and went on to form conglomerates that became family businesses that were handed down from generation to generation.

Numerous companies have now become market leaders in their respective niches. This article discusses such successful  Indian entrepreneurs who, with their innovative products and services, have improved the lives of millions of people. The road to notoriety and success was not smooth for them; rather, it was littered with several challenges and obstacles.

Indian Entrepreneurs of the Year 2022

The following gives a list of Indian entrepreneurs of the year 2022

• Hari Menon
• Kunal Shah
• Deepinder Goyal and Pankaj Chaddah
• Vijay Shekhar Sharma
• Bhavish Aggarwal
• Shradha Sharma
• Raveendran, Byju
• Deep Kalra
• Binny Bansal and Sachin Bansal
• Ritesh Agarwal

Conclusion

Industry includes all those economic activities which focus on the process of raw materials and production of goods in factories. Industry creates utilities satisfying human wants to make profits. Industrial activities comprise extraction, production, conversion, processing, and fabrication of goods and services for economic gain. Different types of Industries in India are available for different types of work.

Both the types of final goods (consumer goods and capital goods)  are produced in the industries. India has a long list of industries for manufacturing two kinds of goods. Consumer goods are meant for direct consumption by the people. Bread, biscuits, butter, shoes, handbags, and toys are examples of consumer goods, On the other hand, Capital goods are used for the production of consumer goods, Plant and machinery factory tools, the raw material can be identified as capital goods.