The industry is concerned with the production of goods and commerce is involved with the distribution of produced products. The process of extraction, production, conversion, processing, and fabrication of products are described as an industry. An industry is either primary or secondary. The primary industry may be either extractive or genetic and secondary industry is either manufacturing or construction.
Primary industries are two types;
(a) Extraction Industry: Extractive industries engaged in supplying commodities which are extracted or raised from the earth, sea, and air with the comparatively small help of human being. The products of such industries are generally used by manufacturing and construction industries for fabricating finished goods. Examples of extractive industries are fishing, mining, agriculture etc.
(b) Genetic Industries: Genetic industries are industries which, though dependent upon nature, requiring a greater application of human skill in their production. The enterprises engaged in agriculture, forestry and fish culture are examples of genetic industries. Though agriculture is dependent upon the nature and quality of the soil and climatic condition, yet success in this line will very much depend upon the application of human skill and knowledge. For example poultry firm, fishing farm, agricultural farm etc.