Happy small Industry Day: Know the reason behind celebrating this day

Small Industry Day is observed on August 30 every year. This day is celebrated to promote small industries and provide job opportunities for the unemployed. In a developing country like India, small industries play vital role in economic development. Given the strategic importance of overall economic development in India, special emphasis is placed on the need to develop small sectors. Thus, the trend of government political support for small industries has been for the development of the small business class. Small industry is an industry that is run on a small scale and is usually exploited with the help of workers as their main profitable activity. Sectors where 10 to 50 people work for wages enter small industries. The main goal of small industry is to solve the problem of unemployment and partial unemployment by increasing employment opportunities. Since small businesses are labor-intensive, the units of capital used in them maintain relatively higher employment opportunities. The second main objective is the distribution of economic power. Economic power is commercialized through households and small industries. Industrial marketing is possible through small industries. Thus, the country's economic development is made possible by reducing the technological balance and regional technological disparities. Labor is abundant due to labor-intensive technology. It is therefore necessary that they establish labor peace.