How were the village economies in India before the arrival of the Britishers?
Answers
Explanation:
*The Industrial Revolution in England created a serious impact on Indian economy as it reversed the character and composition of India’s foreign trade.
*This led to destruction of Indian handicrafts although there was no substantial growth of modern factory industry.
*The factors which were responsible for the gradual decay of Indian handicrafts were—disappearance of princely courts and their patronage, aggressive trade policy of the East India Company and the British Government, increasing competition of British machine—made goods and increasing demand for Western commodities as a result of foreign influence.
*The destruction of Indian handicrafts created a vacuum in Indian markets which was subsequently fed by British manufactured goods. The destruction of Indian handicrafts led to serious unemployment problem and the weavers were most seriously affected.
*Due to this unemployment rate also increased