Monday, November 29, 2010

Industrial Sector- Taking Nation On The Path Of Development

Industry is linked with production of goods with economic mode. Industrial sector is moving toward new heights with advancements in technology and newer techniques. There are four types of segments, primary, secondary, tertiary and quaternary sector.

The industrial revolution ushered a new era in industrial sector, it led to production of goods at large scale. Before such revolution the machine used for producing products was of older technique. Industrial revolution resulted in change in equipment and technique used in producing products. Specialization in labor resulted in skilled workers. This led to increase in production and lowering the cost of products. Development of latest tools and equipment increased the output of products.

Wars also increased the output. With mass production of weapons and supplies the whole concept of war altered.

Now the focus of industries was on producing better weapons that could lead to victory in battles.

The status of industry also depends on the current trends prevailing in the market and the social environment of the nation. If the country is facing situation like war, the production would also be inclined towards it.

Industry is also a big source of income and provider of jobs to the local population. If the nation has good and efficient industry it would open for jobs for skilled as well as unskilled labor.

The economy is deeply connected with industry and economy is divided into public and private sector.

The duration of industry depends upon factors such as change in technology and evolution of newer technology. The quality of products manufactured also determines the life of industry.

If the products manufactured are of superior quality and are designed according to need, the industrial sector is likely to grow and develop.

Primary one deals with raw material like mining and farming. The secondary deals with construction, manufacturing and refining. The tertiary segment deals with services like law and medicine and quaternary is connected with technical design. Industrial sector is part of our society and countries and government also require having policy in order to regulate the segment.

Industrial sector is divided by government into three main sections, agriculture, manufacturing and services. The agriculture one actually deals with agriculture products and raw materials. The manufacturing industry deals in designing products from raw material and it is basically designing sector. The services section is mainly dealing with R&D that is research and development. R&D is the most important and prosperous branch of industrial sector, it is responsible for developing new methods and technique in order to boost production.

The nations with better industries and factories are considered to be advanced and developed. With large scale production of goods these countries are able to meet the demand of population and can earn money by selling their products to other nations. The industrial sector is also affected by various factors such as supply of raw materials, availability of skilled labor and last but not the least proper infrastructure (roads, equipments).

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