Industry

Industry refers to the economic activity concerned with the processing of raw materials and the production of goods in factories. It encompasses a wide range of sectors, including manufacturing, construction, mining, and energy production. Industries are characterized by the methods of production, scale of operations, and the technologies employed. They play a significant role in the economy by providing employment, contributing to gross domestic product (GDP), and facilitating trade. Industries can be categorized into primary (extraction of raw materials), secondary (manufacturing and processing), and tertiary (services) sectors, reflecting the various stages of the economic value chain. The development and evolution of industries are essential for economic growth and innovation.