Industry

Industry is the production of goods or services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry. When a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies. This occurred through many successive rapid advances in technology, such as the production of steel and coal.

Following the Industrial Revolution, possibly a third of the world's economic output is derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on manufacturing industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.

Commerce

Commerce is the activity of buying and selling of goods and services, especially on a large scale or quantity. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally. Thus, commerce is a system or an environment that affects the business prospects of economies. It can also be defined as a component of business which includes all activities, functions and institutions involved in transferring goods from producers to consumers.

History

Some commentators trace the origins of commerce to the very start of communication in prehistoric times. Apart from traditional self-sufficiency, trading became a principal facility of prehistoric people, who bartered what they had for goods and services from each other. Historian Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.

In historic times, the introduction of currency as a standardized money, facilitated a wider exchange of goods and services. Numismatists have collections of these monetary tokens, which include coins from some Ancient World large-scale societies, although initial usage involved unmarked lumps of precious metal.

Chamber of commerce

A chamber of commerce (or board of trade) is a form of business network, for example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community. Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber. The board or council then hires a President, CEO or Executive Director, plus staffing appropriate to size, to run the organization.

The first chamber of commerce was founded in 1599 in Marseille, France. Another official chamber of commerce would follow 65 years later, probably in Bruges, then part of the Spanish Netherlands.

The world's oldest English-speaking chamber of commerce, in New York City, dates from 1768. The oldest known existing chamber in the English-speaking world with continuous records, the Glasgow Chamber of Commerce, was founded in 1783. However, Hull Chamber of Commerce is the UK's oldest, followed by those of Leeds and of Belfast in Northern Ireland.

Suresh Prabhu

Suresh Prabhakar Prabhu (born 11 July 1953) is an Indian politician and the current Railway Minister of India, under the Narendra Modi government. He is a Chartered Accountant by profession and a member of the Institute of Chartered Accountants of India. Since 1996, Prabhu has been a repeatedly elected Member of Parliament from Rajapur Lok Sabha constituency in Maharashtra as a member of the Shiv Sena (SS) political party. He quit Shiv Sena and joined BJP on 9 November 2014. He presently represents Haryana in Upper House of Indian Parliament.

Education

Suresh Prabhu completed his high school from Sharadashram Vidya Mandir, Dadar, Mumbai, followed by a Bachelor in Commerce with Honours from M.L. Dahanukar College, Vile Parle, Mumbai. He received a Bachelor in Law degree from the New Law College (Ruparel College campus), Mumbai. Prabhu is a Chartered Accountant and a member of the Institute of Chartered Accountants of India. He was All India 11th (eleventh) rank holder in CA exam. He is working on his Ph.D. in Climate Change from Frei University Berlin and Public Finance from Mumbai University.

India Today

India Today is an Indian English-language weekly magazine and news television channel. It was established in 1975 by Vidya Vilas Purie (owner of Thompson Press), with his daughter Madhu Trehan as its editor and his son Aroon Purie as its publisher. At present, India Today is also published in Hindi, Tamil, Malayalam and Telugu. The India Today news channel was launched on 22 May 2015.

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