Explain the following terms/concepts.
1) Small Scale Industry
1.Any Industrial Unit is regarded as a Small Scale Industry if the following condition is satisfied.
2.“Investment in fixed assets like plant and equipment.
3. Either held on ownership terms or on the lease or hire purchase should not be more than Rupees one crore.
4. However, the unit in no way can be owned or controlled or auxiliary for any other industrial unit.”
2) Service Sector
According to MSMED on the basis of investment Micro Service Sector ‘does not exceed Rs. 10 lakhs’, Small Service Sector, ‘more than Rs. 10 lakhs but does not exceed 2 crores ‘and Medium Service Sector ‘more than Rs. 2 crores but does not exceed Rs. 5 crores’.
3) Micro Small Scale Business
1. Micro small scale business is classified as Manufacturing Sector and Services Sector.
2. According to MSMED, the Micro Manufacturing sector does not exceed Rs. 25 lakhs, and the Micro Services sector does not exceed Rs. 10 lakhs.
4) Traditional Industrial Sector
1. Small Scale Industries are further classified as Traditional Small Scale Industries and Modern small scale Industries.
2. Handloom, Handicraft, Coir, Sericulture, Khadi and Village Industries are the examples of traditional SSI Industries.
5) Modern Industrial Sector
1. Small Scale Industries are further classified as Traditional Small Scale Industries and Modern Small Scale Industries.
2. Bicycle Parts, Sewing Machines, Blades, Razors, Electric Appliances, Spare Parts are the examples of Modern Small Scale Industries.