Mncs are dominating the indian industrial sector and are offering stiff competition to the small scale industry. How do you compare this situation with the one under british rule when the indian handicrafts were exposed to stiff competition from the machine made products from britain?
Answers
Charter Acts of 1813 was an Act of the Parliament of the United Kingdom which renewed the charter issued to the British East India Company, and continued the Company's rule in India. However, the Company's commercialmonopoly was ended, except for the tea trade and the trade with China.
Answer:
Handicrafts being replaced by colourful, machine-made synthetic items, and consumers used to lean more toward using synthetic goods than Indian handicrafts. Even while over time individuals tended to choose foreign, inexpensive items, The whole business structure is altered by the substitution of handicrafts and this shift in demand patterns for high-quality Indian commodities. The issue is identical to that of MNCs and small businesses, where the latter are having difficulties competing with rapidly expanding large businesses, much as how handicrafts are affected by imported items.
Explanation:
Handicrafts being replaced by colourful, machine-made synthetic items, and consumers used to lean more toward using synthetic goods than Indian handicrafts. Even while over time individuals tended to choose foreign, inexpensive items, The whole business structure is altered by the substitution of handicrafts and this shift in demand patterns for high-quality Indian commodities. The issue is identical to that of MNCs and small businesses, where the latter are having difficulties competing with rapidly expanding large businesses, much as how handicrafts are affected by imported items.
The advent of British tariff rules, competition from several synthetic furnished machine-made items, and changes in consumer preferences that resulted in changes in demand were the primary causes of the decline of handicrafts. The road for handicrafts was made more challenging by British tariff regulations, and they were forced to quit the Indian market due to the heavy burden of enforced tariff and taxes.
Situational factors contributed to the decline of handicrafts in the Indian economy.
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