Infant Industry
Generally, an infant industry is a new industry which is in its early stages and is unable to compete with established competitors. An infant industry is also called sunrise industry. It is an industry in its early stages of development in a particular country. It is a term used in economics to describe an industry that is in its early stages of development. That is, industries that are at an early stage of their development are called infant industries. They need protection from grasping competition through tariff and non-tariff barriers until it is established. An infant industry is a belief that capable home industries need a shield against global opposition until they become established in addition to the stable.
In economics, an infant industry is one that is new and in its early stages of development, and not yet proficient of competing against established industry competitors. It is characterized by a lack of competence, competitiveness, and a high susceptibility to impulsive market changes.
