How did India enterpreneurs accumuate capital for investmant?
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Many of the Indian entrepreneurs, esepcially those who played an important role in the industrial development of India in the latter half of the 19th century, made their fortune in the Opium trade with China. The British exported opium to China in exchange of tea for the British markets. Many of the Indian entrepreneurs provided services like finance, supply procurement and shipping of consignments in this trade. This enabled some, like Dwarkanath Tagore, to invest in the fledgling industry in India. Though their investments sank in the business crises of 1840s, in the latter of the 19th century, they invested heavily in industrial units. In Bombay, industrialists like Dinshaw Petit and Jamsetjee Nusserwanjee Tata accumulated capital partly through the trade with China and partly through the raw cotton trade with England. Famous industrialists like Seth Hukumchand and the father and grandfather of G.D. Birla too earned their fortune in the Opium trade. Some merchants from the province of Madras had trade links with Burma while others had with Middle East and East Africa. There were other players too who were not involved in the export business and instead earned their buck by providing services like goods transport, transferring of funds between cities, banking and finance within India. When investment opprtunities appeared in the industrial sector, many of them set up industrial units.
Hope it helps u
Many of the Indian entrepreneurs, esepcially those who played an important role in the industrial development of India in the latter half of the 19th century, made their fortune in the Opium trade with China. The British exported opium to China in exchange of tea for the British markets. Many of the Indian entrepreneurs provided services like finance, supply procurement and shipping of consignments in this trade. This enabled some, like Dwarkanath Tagore, to invest in the fledgling industry in India. Though their investments sank in the business crises of 1840s, in the latter of the 19th century, they invested heavily in industrial units. In Bombay, industrialists like Dinshaw Petit and Jamsetjee Nusserwanjee Tata accumulated capital partly through the trade with China and partly through the raw cotton trade with England. Famous industrialists like Seth Hukumchand and the father and grandfather of G.D. Birla too earned their fortune in the Opium trade. Some merchants from the province of Madras had trade links with Burma while others had with Middle East and East Africa. There were other players too who were not involved in the export business and instead earned their buck by providing services like goods transport, transferring of funds between cities, banking and finance within India. When investment opprtunities appeared in the industrial sector, many of them set up industrial units.
Hope it helps u
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