Industrial Growth in India
To realise the dream of development of industries, Indian Government adopted certain industrial policies and Five-Year Plans. One of the most important innovations in the industrial field after Independence has been the introduction of the Five-Year Plans and the direct participation in industry by the government as expressed in the Industrial Policy Resolution of 1948. This Resolution delineated the role of the state in the industrial development both as an entrepreneur and as an authority. As per the Industrial Policy Resolution 1956, industries were classified into three categories:
Schedule A: Only the Government can handle these industries. Some of these are atomic energy, electrical, iron and steel and others.
Schedule B: These comprise road and sea transportation, machine tools, aluminium, chemicals including plastics and fertilisers, ferro alloys and certain types of mining.
Schedule C: Under this category, the remaining industries and left to the private sector.
Classification of Industries
* On the basis of raw materials used, industries can be classified into agro-based and mineral-based. According to their role it can be classified into basic and key industries.
* On the basis of ownership it can be classified into public sector, private sector, joint sector and co-operative sector.