GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rising prices
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Cheap imports
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Exports
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Subsidy
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Detailed explanation-1: -Answers. They lack knowledge about the export procedures, demand patterns, product preferences, international currency rates and foreign buyer behavior. Small Scale Industries are not able to penetrate foreign markets because of their poor quality and lack of cost competitiveness. In countries like Taiwan, Japan etc.
Detailed explanation-2: -Resources: They use local and readily available resources. This also helps the economy with better utilization of natural resources and less wastage.
Detailed explanation-3: -Small scale industries are referred to as those industries in which the process of manufacturing, production and servicing are done on a small scale. The investment on such industries is one time and these investments are mostly done on plant and machinery, the total investment on such industries do not exceed 1 crore.