What methods did the British invent to earn more profit?
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Explanation:
In 1812, the first decent weaving machine, Robert's Power Loom, was invented. This meant that all stages in the making of cotton could now be done in one factory. All these inventions had a major impact in the amount of cotton produced in Great Britain – and the fortune this represented
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During the British Raj, these were the methods employed by the British to earn more profits out of India:
- The British exported all raw cotton produced in the country and sent it back to England where the famous Manchester mills would process and weave them into clothes of all kinds. They would then import those clothes and sell them at unreasonably high prices in India.
- The British realized that there is a huge market for Indian spices in the world. Hence, they exported almost all of the Indian spices produced in the country to foreign buyers and countries.
- They broke the back of all industries. The large hand-weaving industry which employed a large share of people in the job market was destroyed overnight by the vanishing of raw materials from the market.
- Further, they made it impossible for Indians to set up businesses in India. They imposed restrictions on the amount or volume of business Indians could carry out in the rare cases that they did allow someone to set up one. J.R.D Tata was one of the rare businessmen who carried out their business throughout the Raj and continued to provide employment to many.
- They exacted unreasonably heavy taxes from Indians, although they did the same with all their other colonies.
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