Correct Option
The correct option is (a).
Explanation
Sunrise industries are emerging sectors characterized by high growth rates, a high degree of innovation, and rising public awareness. These industries are in their infancy or growth stage, promising rapid expansion in the future. They are distinct from "sunset industries" or "smokestack industries," which are mature, traditional, or declining sectors.
Statement-wise Analysis
- 1. Information Technology: Correct. The Information Technology (IT) sector is a primary example of a sunrise industry. It is driven by constant innovation, rapid technological obsolescence, and exponential growth in global demand.
- 2. Wellness: Correct. The wellness and healthcare sector is classified as a sunrise industry due to the increasing focus on preventive healthcare, lifestyle management, and the growing market for health-related services.
- 3. Hospitality: Correct. The hospitality and tourism sector is considered a sunrise industry because of its significant potential for employment generation, infrastructure development, and expanding global reach.
- 4. Iron and Steel: Incorrect. The Iron and Steel industry is a traditional, heavy industry that formed the backbone of the early Industrial Revolution. It is considered a mature or "smokestack" industry, characterized by established technologies and slower growth rates compared to emerging sectors.
Key Takeaway
Sunrise industries (e.g., IT, Wellness, Hospitality, Space Tourism) are new and fast-growing, whereas traditional industries (e.g., Iron and Steel, Textiles) are considered mature or smokestack industries.