“The merchants and industrialists made a significant contribution to the civil disobedience movement”. In the light of the above statement explain their role in the movement.
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Indian merchants and industrialists had seen huge profits from the economic boom during the First World War. As soon as the boom was replaced by the depression, their business got hit and losses became regular. (2) They now reacted against the colonial policies that restricted business activities. (3) They wanted protection against imports of foreign goods. They wanted such a rupee-sterling foreign exchange ratio that would discourage imports. (4) They organised Indian Industrial and Commercial Congress in 1920 and established the Federation of the Indian Chamber of Commerce and Industries (FICCI) in 1927. (5) They supported the Civil Disobedience Movement as they considered Swaraj as a time when colonial restrictions on business would no longer exist and trade and industry would flourish without constraints.