Question
Explain with suitable examples how a basic industry is different from a consumer industry. In your opinion, which one of the two should be given priority and why?
Answer
A basic industry is the one whose finished products are used as raw material for other industries. For example, iron and steel industries. Consumer goods industry is one which produces goods for direct use by consumers. For example, edible oil, tea, soap, bread, radio etc.
In my opinion, basic industry should be given priority because it provides industrial base for the manufacture of many other industrial products.