what is business industry
DEFINITION of 'Industry'. A classification that refers to a group of companies that are related in terms of their primary business activities.In modern economies, there are dozens of different industry classifications, which are typically grouped into larger categories called sectors.EFINITION of 'Industry'. A classification that refers to a group of companies that are related in terms of their primary business activities. In modern economies, there are dozens of different industry classifications, which are typically grouped into larger categories called sectors.