An industry is a particular branch or form of commercial or economic activity. It is mainly related with the raw material processing and the manufacturing of products or good in manufacturing units or factories. Manufacturing and trading takes place in any of business which is related to an industry. Industry can also be defined as systematic labor, systematic work or any kind of devoted, energetic or diligent activity. The effort made by humans is harnessed in a way that it helps in the production of commercial services and goods.
What Is An Industry?
The term industry comes from ‘Industria’ a Latin word. It means an activity that is done in a diligent manner and directed to some kind of purpose. The term industry has also been derived from the word ‘Industrie’ which means occupation, trade, ability or activity. It also means a device or skill used for the production of services and goods.
The Industrial Revolution has taken place in the past due to effort taken by humans for the purpose of manufacturing of products and services which could then be sold. This kind of habitual employment and method of systematic job gradually grew and became more and more important. In fact such kind of habitual work, took over the world, to a very large extent. Just like the clothing industry, textile industry, machinery industry, etc. the industry of literature also came into existence.
An activity in business, which is related to the production, manufacturing and production side, is termed as an industry. As a result of this activity producers goods and consumer’s goods are manufactured which are used by the consumers finally. Cosmetics, electronic goods, textile products, food grains, equipment, tools and machinery are the kinds of good manufactured by the producers in any industry. It is depending upon the growth in any industry that commerce and trade expands gradually. In fact the supply side of the market is represented by the expanding commerce and trade.
It is after the creation of the final product, that a particular industry is accordingly named. If an automobile is being created, then it is related to the automobile industry, for example. Different categories have been made, to help in categorizing different kinds of industries. Accordingly a code for uniform classification is also provided to the industry.
What Are The Different Types Of Industries
The Genetic Industry
In the genetic industry, certain kinds of animals and plants are bred or cultivated to multiply or reproduce. This is done with the main aim of making a sale or profits. A few examples that can help in explaining what the genetic industry is, is rearing of cattle, poultry, plant nurseries, breeding fish, etc.
The Service Industry
In modern day times, as far as the development of the country is concerned, an important part is played by the service industry or the service sector. A few examples of industries that fall in the category of the service industry include the tourism industry, the hotel industry, the entertainment industry, etc.
The Primary Industry
In the primary industry, products are manufactured using raw materials produced by nature. This industry is basically nature oriented. Not much effort is required on the part of humans. A few examples that can help in explaining the primary industry are horticulture, agriculture, fishing, farming, forestry etc.
The Manufacturing Industry / Secondary Industry
The manufacturing industry is also termed as the secondary industry. In the manufacturing industry, the raw material is processed and transformed in the final or the finished product. Manpower and machines are used for transforming the products and services. The end product or the finished product is either producer goods or consumer goods. A few examples related to the manufacturing industry are the sugar industry, automobiles industry, food industry, textiles industry, sports goods industry, paper industry, building industry, chemical industry, etc. Meat and raw materials are converted into food in the food industry. Bread is made from wheat in the bakery business which is also included in the secondary or manufacturing industry.
In the tertiary industry, various kinds of public services are involved. Till the eighteenth century, this industry was not so popular. However with the advent of the Industrial Revolution, there was a revolution in the secondary industry, along with the tertiary industry. In fact in any nation, the tertiary industry is one of the most important industries. A few industries that can be included in the tertiary industry include education, banking, delivery services, health services, civil defence services, insurance, etc.
The Construction Industry
In the construction industry, the job of constructing canals, buildings, dams, roads and bridges is undertaken. From the rest of the other industries, the construction industry is quite different. In industries of the other types, the products are produced at one single place and then are taken to another place for the purpose of selling. However in the case of the construction industry, the products are produced and later sold at the place where they have been erected or constructed.
In the extractive industry, goods are drawn out or extracted from different kinds of sources like water, air and soil. The products obtained in this process are raw and are then processed and later used by various industries to manufacture, construct and produce the finished products. A few examples, which can help in explaining what the extractive industry is, are the oil industry, the mining industry, extraction of rubber and timber from forests, coal mineral industry, iron ore industry etc.