A large scale business is one that runs on large scale industries. It mainly comprises a lot of labor and national, international recognition. It employs massive infrastructure with an influx of capital assets is a large-scale industry. Further, in India, an industry needs to have fixed assets worth at least Rs. 10 crore to be a large-scale industry.
The term ‘large-scale’ is generic in nature and includes different types of industries. In India, the following heavy industries fall under the purview of large scale industries:
- Iron and Steel Industry
- Textile Industry
- Automobile Manufacturing Industry
- Over the last two decades, Information and Technology (IT) industry has evolved and has contributed huge revenues while creating thousands of jobs for Indians. Hence, many economists include it in the large-scale industry sector.
- Telecom Industry
- t is important to note that these industries are either manufacturing units or those which use both indigenous and imported technologies.