Question

what was the result of British investing industrial capitalism in India?

Answer 1

Impact of British on Economy of India

The Battle of Plassey was fought in 1757 and Battle of Buxar in 1764. The economic loot started from 1757 ended only in 1947 when India was free.

From the third quarter of the 18th century, Industrial Revolution in England started and this brought the age of spinning genny, power looms and steam engine. The most important initial developments were as follows:

Textile:

Richard Arkwright developed water frame.

James Hargreaves developed Spinning Jenny

Samuel Crompton developed Spinning Mule

These were developed in the initial decades of the 18th century. The last of above three i.e. Spinning Mule was patented in 1769, but the patent ended in 1783. As soon as this patent ended there was a rapid growth of cotton mills in England.

Steam Power:

In 1775 James watt patented the improved Steam Engine which was apart from pumping out machines; it was used in the power machines.

This enabled the development of the semi automated factories.

Iron Industry:

In Iron making, Coke was finally applied to all stages of Iron smelting, replacing the Charcoal. It improved the production as well as efficiency.

But, the economic loot in India provided the profits to the Great Britain in these years that no other investment had ever provided. For almost half a century, England was standing without a competitor.

Great Britain kept on maturing the manufacturing and industrial revolution and in India; it kept changing the objectives and methods of control towards a more centralized colony.