Policy of discriminating protection during the british rule in india
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Period I (1850-1914):
Industrial development was to a great extent a by-product of certain interrelated developments like improved transport and communications, growth of foreign trade and consequent accumulation of commercial fortune
Railway building and maintenance had effects more far reaching than the opening up of the interior and exposing agriculture to the market economy. It released some of the latent potentialities for industrial development.
The major features of industrial development in India during this period were as follows:
(i) The decline traditional handicrafts paved the way for the transformation of the Indian economy. Despite many difficulties, a better state of affairs was discernible so far as industrial activities were concerned. Educated Indian was becoming more and more eager to take to technical education. Capital was overcoming its proverbial shyness. Steam was fast replacing manual power and serious attempts were made to start new industries.
Industrial development was to a great extent a by-product of certain interrelated developments like improved transport and communications, growth of foreign trade and consequent accumulation of commercial fortune
Railway building and maintenance had effects more far reaching than the opening up of the interior and exposing agriculture to the market economy. It released some of the latent potentialities for industrial development.
The major features of industrial development in India during this period were as follows:
(i) The decline traditional handicrafts paved the way for the transformation of the Indian economy. Despite many difficulties, a better state of affairs was discernible so far as industrial activities were concerned. Educated Indian was becoming more and more eager to take to technical education. Capital was overcoming its proverbial shyness. Steam was fast replacing manual power and serious attempts were made to start new industries.
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