Every year on the 30th of August, Small Industry Day is celebrated. This day is commemorated in order to promote small businesses and provide job possibilities for the jobless. In a developing nation like India, small businesses play an essential role in economic growth. Given its strategic relevance in India's overall economic growth, the necessity for the development of the small-scale sector has received significant attention. As a result, the government's policy support for small businesses has been beneficial and favourable to the growth of the small business class.

Definition of Small Scale Industries: Small industries are those that function on a small scale and heavily rely on the assistance of employees and workers as their primary vocation. Small scale industries are those that employ 10 to 50 people in exchange for a salary. Small-scale industries are defined as businesses with fixed assets such as investment plants and machinery. The government changes this investment limit over time. 

 
Objectives of Small Industry: The main objective of the Small Industry is to solve the problem of unemployment and semi-unemployment by increasing employment opportunities. Because small enterprises are labour-intensive, the units of capital employed in them are maintaining relatively more employment. The second main objective is the equal distribution of economic power. Economic power is commercialized through the cottage and small industries.

Industrial marketing is possible through Small industries. With this, the economic development of the country is possible by reducing the technological balance and regional technological disparity. Due to labour-intensive technology, there is an abundance of workers. Therefore, it is necessary that they establish industrial peace.

The civilization and culture of the country are protected through Small industries. Art and traditional goods are mostly produced by small industries and mostly these industries are based on labour-intensive technology, which reinforces the spirit of mutual goodwill, equality and fraternity in the industries.

*The main objective of the Small Industry is to make optimum use of natural resources.

*From the point of view of human values, a feeling of 'simple living, high thought' should be created.

*To make the balance of trade and balance of payments favourable, it is necessary that they earn more foreign currency.

*Their main objective is to provide the best goods to the general public.

*They play an important role in the Indian economy and aim to produce the best possible.

Contribution of Industry to Indian Economy: Small industry and cottage industry have been very important in the Indian economy. Since ancient times, the best quality goods are being produced in the small and cottage industries of India. Although this area too underwent a huge decline in British rules, like other Indian industries, it has developed at a very rapid pace after independence.

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