How was the Indian textile market ruined due to Industrial Revolution?
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before the industrial revolution, India used to export textile to England.This popularized its products and increase in demand acts as a source of revenues for the entire country. However after, the industrial revolution,industries started functioning in England too. This meant that the need for finished commodity had to come to an end. Her colony England was now in need of raw material. This led to India reversing to business of exporting raw material(cotton) to England. This ruined the textile and handicrafts industries.
Farmers were forced to grow cotton and sell at a fixed price set by the Britain. The finished products were imported back to India and sold much cheaper compared to home made textiles making it difficult for survival of textile industries.
Farmers were forced to grow cotton and sell at a fixed price set by the Britain. The finished products were imported back to India and sold much cheaper compared to home made textiles making it difficult for survival of textile industries.
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5
India's textile industry thrived because it had access to cheap labor that resulted in high quality but low priced calicoes.However, after theindustrial revolution the table was turned as thetextile imports to Britain were hurdled by stringent tariffs and other protectionist policies.
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