In India, it is the only industry in the country, which is self-reliant and complete in the
value chain i.e., from raw material to the highest value added products. Which industry
is being spoken about here?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Textile Industry
- The textile industry is the only industry in the country which is self-reliant and complete in the value chain.
- The textile industry is considered to be self-reliant because products at each stage are used as the raw material for the next stage of production.
- It performs all activities from the production of raw material to the delivery of finished goods and a substantial amount is added at each stage, thereby increasing the value of the product and as a result, profits are created.
- The iron and steel industry is a basic industry and forms the backbone of industrial development in any country.
- It provides the raw materials for making industrial machinery, electrical machinery, defence equipment, railway tracks, dams, houses, and a host of other industrial and consumer goods.