Question

Discuss the condition of industrial sector on the eve of independence in 60 70 words
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Answer 1

Answer:

Your answer is:-

Explanation:

The condition of industrial sector on the eve of independence:-

Before the British period, India’s well-known industry was the handicraft and textile industry. India was well-known for its industries in cotton and silk textiles as well. And in addition, Indians were excellent in metal and precious stonework as well. When the Britishers came, they were followers of de-industrialization in India. They did this by creating situations which were conducive to the decay of the handicraft and textile industry. They also did not make any effort to promote to permit the continuation of the metal and precious stone works.

The following was the condition of the industrial sector on the eve of independence.

The decay of the Handicraft Industry. The traditional handicraft industry in India initially was in high demand. But the British rule completely discriminated the practice. The prevalence of discriminatory tariff policy and the competition from machine-made products was very critical for the downfall. Also, the introduction of railways in India was the reason for market expansion. Consequently, the demand for the handicrafts began to fall. All of these directly led to the downfall of our prominent industry.

Slow Growth of the Modern Industry. Due to the limited growth of the PSEs and the lopsided industrial structure, the growth of the modern industry was slow. In addition, there was a lack of basic and heavy industries.

To conclude,

Not only was the industrial and agricultural sectors of the country affected but so was the foreign trade. Foreign trade plays a crucial role in the development and earnings of a country. Although it is great to be a self-sustaining and independent country, foreign trade and globalization are critical to a country’s success. Indian economy on the eve of independence in relation to the foreign trade was very poor. Due to the rules imposed by the British, none of India’s products or skills had any recognition. And hence, adversely affecting the structure, composition and volume of the country’s foreign trade and income.