Question

what is Industrial development..??

Answer 1

Industrialisation began in the late 18thand 19th century in Britain. Before industrialisation India had a steady growth and development of industries with a good international market for commodities

.The political disintegration of India with the decline of the Mughal Empire had a serious effect on the economic condition of India.

Trade and industry of India went into the hands of the East India Company whose political position became stronger with the success of Battle of Plassey in 1757.Indian markets were fully captured by the British and heavy taxes were imposed on the export of Indian products in the outside market.

In this way the market for Indian goods were losing popularity and Indian traders faced heavy losses. No Indian industry especially the handicrafts could survive in the market. In return, Indian markets were flooded with machine made British goods .Raw materials from India was taken to Britain at cheap costs.

India became a supplier of raw materials at the prices fixed by the British. The traditional reputation of Indian industries were destroyed by the British.