Question

Industries were set up in diferent regions by varying sorts of people. elucidate ​

Answer 1

Industrial regions are those areas, where concentration of industries has occurred due to favorable geo-economic conditions. These are areas within which manufacturing industry is carried out on a relatively large scale and employs a relatively large proportion of population.

Answer 2

Industries were set up in different regions by varying sorts of people.

Explanation:

• Many business organizations have a long history of trading with China.The British began to export opium to China in India from the late eighteenth century, and brought tea from China to England. Many Indians became junior players in this business, supplies, shipment, and providing finance. Some of these entrepreneurs, having earned a living from trading, had dreams of establishing industrial companies in India.
• Dwarkanath Tagore made his fortune in the trade of China in 1830s and 1840s in Bengal before going to industrial investments. The companies of Tagore and others failed with in the larger market crises of the 1840s, but many China traders became successful industrialists later in the nineteenth century.
• In Bombay the initial wealth of Parsis such as Dinshaw Petit and Jamsetjee Nusserwanjee Tata, who established huge industrial empires in India, was accumulated, partly, by exports to China and in part by raw cotton shipments into England. In 1917, the first Indian jute mill in Calcutta was set up by Seth Hukumchand, a Marwari businessman, and he also traded with China. So did the father and grandfather of the well-known industrialist G.D. Birla.
• Capital was accumulated through other trade networks. Some Madras merchants were trading with Burma while others were linked with the Middle East and East Africa. There were also others, but they didn't specifically engage in international exchange. They traded in India, transported commodities from one location to another, banking funds, transferring funds from cities to traders. Many of them set up factories when opportunities for investment in industry opened.
• The space in which Indian traders could operate became increasingly small as colonial regulation of Indian trade increased. They were prohibited from trade in manufactured goods in Europe and were forced by the British to export most of their food commodities and grains (raw cotton, opium, wheat and indigo). They were slowly edged out of the shipping business.
• However, before the First world war, a wide sector of Indian factories were managed by European managing agencies. Bird Heiglers & Co. and Jardine Skinner & Co were three of the largest. These organizations have mobilized resources, developed and operated joint ventures. Indian financiers provided much of the capital while the European agencies took all decisions concerning investment and industry. European merchant-industrialists had their own chambers that Indian businessmen could not enter.