Introduction of Large Scale Industries A business can range from a single proprietor enterprise to a large corporation that employs thousands of workers across multiple countries. Based on the scale of business, organizations are classified as micro-enterprises, small-scale enterprises, large-scale industries, public enterprises, and multinational corporations. Industries that require huge infrastructure and manpower with an influx of capital assets are Large Scale Industries. In India, large-scale industries are the ones with a fixed asset of more than one hundred million rupees or Rs. 10 crores. The Indian economy relies heavily on such industries for economic growth, generation of foreign currency, and the creation of job opportunities for millions of Indians. Large Scale Industries in India 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 Ste
Advantages of large Scale Industries The following are the merits of large-scale production: 1. Internal Economies: Internal economies arise within the firm due to the expansion of the dimensions of a specific firm. 2. External Economies: External economies arise with the expansion of the industry. These are generally the results of large-scale production and are related to the benefits of localization. 3. Use of machines: Large-scale production always makes use of machines. So, all the benefits of the utilization of machinery are available. 4. More Production: The large scale industries can produce more goods. as an example, an enormous sugar factory can use molasses to form spirits and thus can reduce the value of the production of sugar. 5. Economies of Organization: With a rise within the size of the firm, the value of management is reduced. 6. Cheap and straightforward Loans: A large business can secure credit facilities at cheaper rates because these firms enjoy credit