V. Mention the effects of industrial revolution on the world in the 20th century
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In 1750, India produced nearly 25 % of the world's manufacturing output and was only outdone by China, which constituted 32.8 %. By 1880 however, India only took up 2.8 % of world exports (1), and after its independence from British colonization in 1947, it was one of the most poverty-stricken regions in the world. India's economic deterioration is particularly ironic, considering the industrial boom that Britain experienced during the same era (2). Nevertheless, from 1750 to 1947 India experienced modernization of its economy in various areas including agriculture, factory production, finance, and even film production. Though India did lose its edge in the textile trade and did in fact experience de-industrialization (3), its thriving "Bollywood" cinema market and automobile production in Hindustan are some notable examples of economic modernization.
II. Definition
Industrialization will be examined based on the modernization of India's economy in the following four major sectors of the economy: primary, secondary, tertiary, and quaternary. The primary sector deals with the extraction and production of raw materials, and entails farming and mining. The secondary sector takes the materials gained from the primary sector and transforms the raw materials into final goods such as textiles and automobiles. The tertiary sector involves the provision of services such as banking, finance, and cinema to consumers and businesses. Last of all, the quaternary sector usually appears the latest in a country's modernization process. It entails technological research and education. Since this paper deals with the pre-colonial and colonial India, it safe to assume that the quaternary sector will hardly be invoked.
III. Objectives
The four major sectors will be examined in order. The paper will focus on how they developed throughout history through production rates and statistics until independence in 1947. Considering the special colonial history of India and its de-industrialization phenomenon, this paper also seeks to answer whether British colonialism harmful or beneficial to the modernization of India's economy.
II. Definition
Industrialization will be examined based on the modernization of India's economy in the following four major sectors of the economy: primary, secondary, tertiary, and quaternary. The primary sector deals with the extraction and production of raw materials, and entails farming and mining. The secondary sector takes the materials gained from the primary sector and transforms the raw materials into final goods such as textiles and automobiles. The tertiary sector involves the provision of services such as banking, finance, and cinema to consumers and businesses. Last of all, the quaternary sector usually appears the latest in a country's modernization process. It entails technological research and education. Since this paper deals with the pre-colonial and colonial India, it safe to assume that the quaternary sector will hardly be invoked.
III. Objectives
The four major sectors will be examined in order. The paper will focus on how they developed throughout history through production rates and statistics until independence in 1947. Considering the special colonial history of India and its de-industrialization phenomenon, this paper also seeks to answer whether British colonialism harmful or beneficial to the modernization of India's economy.
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