Explain the impact of great depression of 1929 on the indian economy.
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The Great Depression of 1929 had a very severe impact on India, which was then under the rule of the British Raj. The Government of British Indiaadopted a protective trade policy which, though beneficial to the United Kingdom, caused great damage to theIndian economy.
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1. Indian imports as well as exports almost halved between 1928 and 1934.2. As International prices crashed prices in India also plunged.3. Wheat prices fell by 50%.
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