Correct Answer - Option 2 : Information Technology
The correct answer is the IT industry.
Sunrise Industry:
- A sunrise industry is one that is new or relatively new, is growing fast, and is expected to become important in the future.
- Examples of sunrise industries include hydrogen fuel production, petrochemical industry, food processing industry, space tourism, and online encyclopedias.
- Sunrise industry is a colloquial term for a burgeoning sector or business in its infancy stage showing promise of a rapid boom.
- Sunrise industries are typically characterized by high growth rates, numerous start-ups, and an abundance of venture capital funding.
- A new and growing industry especially in electronics and telecommunications is known as the sunrise industry.
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IT industry is called a sunrise industry as it has grown at a fast pace in the last ten years.
- It is still growing and has tremendous scope to grow in the coming years as well.
The cooking oil industry, paper industry, jute industry, etc, are agro-based as well as raw material-based industries. These are conventional and have already developed their space.
