[SunilNagpal]

Assuming that you are only talking about Internship related research (and not PhD):
Academic research is often more conclusive in short time spans (wherein your advisor will assign you with an aim, mostly after "you approach him/her with your interests" and he tells you appropriate methods). You study the literature, perform the experiments, get the results. Give the presentation and get your marks/ remarks.

In industry, your choice part is in choosing the industry. Thereafter, your training subject is mostly decided by the requirements of the industry and your perceived calibre. You often get oriented towards the equipments or tools used in the industry, followed by an experiment or two to use those tools. In some cases, you might get an opportunity to do some part of experiments in an ongoing project (depends upon perceived calibre). Shorter the training span, the more "introduction" type of training it will be in an industry. You will be made aware of the processes, security, QC etc. Given the fact that most industries have pre-defined modus operandi, the possibility of doing some exploratory work is less.

But, if you manage to get internship in an R&D organization, you might be able to get a nice mix of Academia and Industry!

Hope it helps

In addition,there is an advantage in Industrial research with respect to the opportunity to get acquainted with "Latest Technology/ Processes" (an industry is expected to use modern technology; as compared to an academic institute which might have an old curriculum/ similar line of projects).