Why are British Not in favour developing industries in India
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Underdeveloped counbytrgies are greatly handicapped by shortage of capital for industry and enterprise.
Finance is the prime maker of growth. Anyway, capital for industry and entrepreneurial zeal were severely and conspicuously scarce in India when the East India Company (1600-1874) stepped into this country.
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The British never favoured the development of industries in India
Explanation:
- Before the advent of the British, India manufactured many products and had a good market for trade. Indian handlooms, muslin and many such products were in great demand. However, when the British took over India they adopted a policy that can be called ‘de-industrialisation’.
- They themselves were industrially greatly developed, thanks to the Industrial Revolution. They needed a ready market to sell their industrial products.
- India served as the right market. The Indians were forced to buy British goods at high prices. The Indian manufacturing units were forced to close down.
- The Indian raw materials were forcibly exported to Britain at a negligible cost. Thus it was an obvious truth that the British were not in favour of developing industries in India.
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