Differences between Industry and Commerce

S.no

                                       Industry

                                             Commerce

1)

Industry is that part of the business activity which produces goods or services through utilization of the available material resources

Commerce refers to all those activities that bring about distribution of goods among consumers and users according to their tastes, needs and convenience.

2)

Industry, by producing goods and services as per requirement of society creates form utility.

Commerce creates person ,  place , finance, time , risk and knowledge utilities.

3)

Industry includes only production of goods and services.

Commerce includes trade , banking , transportation , advertising , insurance , warehousing etc.