Give four features which marked industrial growth vin India
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Following features mark industrial sector growth in India
. several top industrial companies have been able to benefit from the able to benefit from the competition with MNCs and have invested in new technology,production methods and raised their production standards
. indian companies emerged as multinationals
. local companies supplying raw materials to MNCs have prospered
. foreign investment have created new job opportunities in secondary sector.
. several top industrial companies have been able to benefit from the able to benefit from the competition with MNCs and have invested in new technology,production methods and raised their production standards
. indian companies emerged as multinationals
. local companies supplying raw materials to MNCs have prospered
. foreign investment have created new job opportunities in secondary sector.
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(i) European Managing Agencies, which dominated industrial production in India, were interested only in tea and coffee plantations.
(ii) They acquired land from the colonial government; and invested in mining, indigo and jute.
(iii) These were products were exported.
(iv) Indian businessmen who set up factories did not try to compete with imported goods which were available in the Indian market.
(v) Since yarn was not imported into India, the early cotton mills in India produced coarse cotton yarn rather than cloth.
(vi) The yarn produced in Indian spinning mills was used by handloom weavers in India or exported to China.
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