Which of the following is an example of private sector industry in India?

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Step-by-step reasoning:

1. Definition: A private sector industry is owned and operated by private individuals or corporations, not the government.
2. Classify each company:
   - (1) Steel Authority of India Limited (SAIL) — a central government-owned public sector undertaking (PSU).
   - (2) Tata Iron and Steel Company (TISCO) — part of the Tata Group, privately owned; this is a private sector company.
   - (3) Oil India Limited — a public sector undertaking (PSU) under Government of India.
   - (4) Bharat Heavy Electricals Limited (BHEL) — a government-owned PSU.
3. Conclusion: Only item $2$ (Tata Iron and Steel Company) is an example of a private sector industry in India.

FINAL_ANSWER: b

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