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Classify industry based on ownership....

Classify industry based on ownership.

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Based on ownership, industries are classified as:
(a) Public Sector Industries are owned and managed by government. In India, there were a number of Public Sector Undertakings (PSU). Socialist countries have many state owned industries. Mixed economies have both Public and Private sector enterprises.
(b) Private Sector Industries are owned by individual investors. These are managed by private organisations. In capitalist countries, industries are generally owned privately.
(c) Joint Sector Industries are managed by joint stock companies or sometimes the private and public sectors together establish and manage the industries.
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