evolution of business in india
Answers
Answer:
Evolution of business means its origin, growth, and continuous development with expansion in various sectors, that contribute and run economies. The business evolution went through many progressive stages or so called developmental steps.
Explanation:
Growth of Public and Private Enterprises:
Industrialisation in India mainly started after 1947. ... Basic and strategic industries were developed under public sector and consumer goods industries were left to be developed under private sector. There were a number of changes in industrial policy from time to time.
Answer:
Business activities in India have evolved over a long period of time. Following are the different stages of the evolution of business in India:
1. Family centered village communities
At the early stage of evolution life was relatively simple. Communities lived together in small self sufficient villages. They produced what they needed.
2. Development of local markets
This is the second stage in the evolution of business activities. Local markets developed when people started coming together at a common place at regular times.
3. Middle Ages, town economy and emergence of money
Small towns slowly started emerging for the village markets. Places where the courts were located or capital centers started attracting people from villages.
4. Trading across the seas
Overseas trading is the next stage in the development of business. Limited overseas trading was carried out even during the pre-Christian era between Indian Kingdoms and the countries in the Middle East. With the opening of trade routes by the Europeans in the 15th Century the trading activities became wider. During the subsequent four centuries major European powers opened their trade centres at different places in the country.
5. Machine age / Industrial Revolution
Industrial revolution in England and other parts of Europe in the 18th century changed the volume of production tremendously. Goods became cheaper and sophisticated. Large scale marketing became essential for the survival of large industries. Transport and communications changed due to the invention steam engine and locomotives.
6. Decline of cottage industries and handicrafts
Decline of cottage industries was the side effect of industrial revolution.