Small Industry Day is celebrated every year on 30 August. This day is celebrated with the aim of promoting Small Industry and providing employment opportunities to the unemployed. A small industry has an important role in economic development in a developing country like India. Keeping in mind the strategic importance in the overall economic development of India, special emphasis has been given to the need for the development of small scale sector. Accordingly, the trend of policy support from the government for the small industry has been helpful and favourable for the development of small enterprise-class.
Definition of Small Scale Industries: Small Industries are those industries which are carried out on a small scale and are generally operated with the help of workers and workers as the main occupation. Industries in which 10 to 50 people work in return for wages come within the small scale industry. Small Scale Industries is an industrial undertaking in which fixed assets in investment plants and machinery are called. This investment limit varies over time by the government. In the small industry, goods are sourced from outside and technical skills are also obtained from outside.
Objectives of Small Industry: The main objective of the Small Industry is to solve the problem of unemployment and semi-unemployment by increasing employment opportunities.
Because small enterprises are labour-intensive, the units of capital employed in them are maintaining relatively more employment.
The second main objective is the equal distribution of economic power. Economic power is commercialized through the cottage and small industry.
Industrial marketing is possible through Small Industry. With this, the economic development of the country is possible by reducing the technological balance and regional technological disparity. Due to labour-intensive technology there is an abundance of workers. Therefore, it is necessary that they establish industrial peace.
The civilization and culture of the country are protected through Small Industry. Art and traditional goods are mostly produced by small industries and mostly these industries are based on labour-intensive technology, which reinforces the spirit of mutual goodwill, equality and fraternity in the industries.
The main objective of the Small Industry is to make optimum use of natural resources.
From the point of view of human values, a feeling of 'simple living, high thought' should be created.
To make the balance of trade and balance of payments favourable, it is necessary that they earn more foreign currency.
Their main objective is to provide the best goods to the general public.
They play an important role in the Indian economy and aim to produce the best possible.
Contribution of Industry to Indian Economy: Small industry and cottage industry have been very important in the Indian economy. Since ancient times, the best quality goods are being produced in the small and cottage industries of India. Although this area too underwent a huge decline in British rules, like other Indian industries, it has developed at a very rapid pace after independence.
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