Is Basic Industries a Good Career Path?

To answer this question "Is basic industries a good career path", let’s know what is called basic industry.

Basic industries are the industries which sources its raw materials directly form nature. They are the first form of materials sourced from nature or to be exact what nature provides. To name a few iron, minerals, agricultural products, mining products, etc.

How is Basic Industries a Good career Path?

It is one of the best and good career path irrespective of the qualification as they serve as the primary source for any business to run. According to the Ministry of commerce and Industry India the basic industries have grown for about 55% approximately compared to last year as per October Statistics.

To know more about growth statistics of basic industries and to decide on “Is basic industries a good career path?” check the Indian commerce website: https://dashboard.commerce.gov.in/

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More about the top and core eight basic industries in India

Ministry of commerce and Industry, India claims that the eight core basic industries have growth of about 7.5 percent compared to previous as of October,2021.

✔️ Government initiatives

Basic industry is a Good career path as it has become the primary focus of almost all the countries around the world. Government of all nation always focus on basic industries and promote Basic Industries a Good career Path they directly contribute to the economic growth of the nation. To promote growth of Basic industries has taken many initiatives.

To name a few…

● Apprenticeship for young graduate

● Bank loans for small scale business with basic commodities

● Sustainability in extracting raw materials.

● Promoting awareness among public about basic industries contribution to world’s economy

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✔️ Detailed Growth rate of Basic Industries.

In India the basic industries have grown to about 40.27 percent along with crude oil which is included in Index of industrial Production(IIP). The top basic industries with growth rate in May,2021 over May,2020 as per government data are as follows

● Coal Production – increased by 6.9% and cumulative index increased by 8.2 %

● Crude Oil – 6.3% increase with cumulative growth of 4.2

● Natural Gas – 20.1% increase and cumulative index of 22.5% increase

● Steel – increased by 59.3 percent and cumulative of 149.5 percent

● Cement Production – 7.9% increase

● Electricity generation – 7.3% increase and cumulative of 21.5% increase

✔️ Agriculture in basic industries

Agricultural product is the major contributor of gross Domestic product(GDP) in India. It also had a very prominent growth of about 20% of total GDP and it is for the first time after 17 years in India.

Why Is basic industries a good career path?

In spite of the pandemic situation , the basic industries have seen visible growth in the past year based on the Data available and market needs. And we are bound to accept the fact that Basic industries are the first and foremost pillar of the economy in any time and any part of the world.

Also, as the world is focusing much on sustainability and environmental conservation, there is a chance of great demand for every profession in basic industries. Also, even the UN took many initiative to promote sustainability among basic industries.

So to formulate a promising and uprising career “basic industries is a good career path”