Industries are regarded as the backbone in the economic development of a country. Thousands of years ago, when human needs were limited in number, man himself used to prepare the things for his personal use, as farming tools, utensil for eating food and hunting weapons. However, in this age of progress, the acute shortage of time and tremendous increase in human requirements has compelled man to give this limited work the status of industries. In fact, industries involve the transformation of raw material into useful finished products through various processes. For instance, cloth is made from wool, sugar from sugar cane, flour from wheat and furniture from wood.
- Industries are of four types:
- Cottage industries:
Cottage, industries or handicrafts mean working with hands in the home-based units. With the passage of time, cottage industries have also been modernized.
- Industries progress is dependent on the following factors:
- Physical features
- Geographical location
- Energy resource
- Availability of markets
- Sufficient amount of capital
- Availability of water.
- Industrial awareness.
- Strong economic system political stability.
- Availability of raw material.
- Trained staff/skilled.
- Speedy means of transportation.
- Government patronage.
- Disposal of waste materials.
- Demand of the people.
- Role of business institutions.
- Tax concession.