ea hes noth and | Centres. rue in Europe biweens 7 This system was in yoyue in FE BL ee s called fi ¢ owner of the land was sriculture. kaon ag MC ag fs. The primary industry was agricu yar ie ’ se ides a ‘e tu ” mn ofessions were those of carpentry, 1 were thos i r 7 rtant professions Besi vioulture, other impor 7 were dependent blacksmithy, pottery and weaving. Even these artisans « upon feudal lords. Guild System ; e serfs from their The urbanization in Europe emancipated the serfs fr traditional slavery, Having emancipated themsolve: feudal lords, the workers started learning new trades acquired by workers, s from serfdom under centres of trade came up. Gradually this process Bave rise to this Guild System Under Giiiid: sysieni” thake wed to be two kinds of guilds: the Merchant Guilds and Craft Guilds. The main task of Merchant Guilds was rest of businessmen. The Graft Guilds were to look after the int. “mssucitions formed by Craftsmen carrying on a particular craft. The Craft Guilds worked for the promotion of the crafts and pr ‘aftsman controlled the entive Production and everything was under his Personal ownetehi aaa Gane this system was to provide raw meterials and manufactured good, All Processes or stages of production were under his individual sontral and supervision. Modern Period ; The modern Industry in Indin began after the British twokover thy reigns of India i.e. » 1850.60.Jute mins wl Were established ‘way system were started In} 911 Jamshedji Tata Ushered in an era fost Independence period + of Indian industry, annum during 1970-82, "88° Growth rate about 5 percent per Growth of Industry ~ petroleum product, chemicals, metal and electronics eto, Different five year plans saw the expansion and diversification of the industrial structure. ‘The important feature of industrial growth in the country after independence has been the rapid expansion of public sector. Industrial law which came into existence to safe guard the intrest of the workers. The laws like Factories Act, Mines Act, LD. Act, Trade Union Act. Social security legislation and wage legislation etc. Industrial policy was first announced in 1948. The policy was revised in 1956, under the revised policy, industries specified in Schedule ‘A’ and ‘B’ which ‘is enumerated below: Schedule “A” Industries — Arms and amoninations and allied items of defence equipment; atomic energy, iron and steel, heavy castings and forgings, heavy electrical plant including large hydraulic and steam turbines, coal and lignite, mineral, oils, mining of iron ore, manganese ore, telephone, telegraph, electricity ete. Schedule mineral as defined in sco-3 of the Mineral Concession Rules, industries - All other mineral except, minor 1949; eluminium and other non-ferrous metals not included in schedule A. Machine tool Ferro-alloy and steel, drugs, dye. stuffs and plastics, antibiotics, fertilizer, synthetic rubber, transport ete. Regulation of Industry : An important objective of the Industrial policy is to prevent the emergence of private monopolies and the concentration of economic power in we