Question

Why has indian cotton export market collapsed and the local market shrank in the beginning of 19th century?

Answer 1

Exports of British cotton goods increased dramatically in the early 19th century. By 1870s cotton, piece-goods constituted over 50 percent of the value of Indian imports. For the cotton weavers in India, their export market collapsed and the local market shrank, being glutted with Manchester imports.

Answer 2

The Indian cotton export market collapsed and the local market shrank in the beginning of 19th century due to the Industrial revolution in Britain. The British produced machine made goods that were cheaper and could be produced faster

Explanation:

• The cotton export market collapsed and the local market shrank in India due to the cheaper machine made goods that was being made in England on a large scale. The Indian markets were still producing the textiles through the traditional methods
• There were major restrictions put on imports in the country by the British and increase in the prices of the raw materials. India was made to export raw materials for the British industries during the industrial revolution
• The textile weavers faced a lot of problems through the middlemen who collected the goods from them at lower prices and sold them for higher prices in the markets.

To know more about Industrial revolution

Discuss industrial revolution. What are the characteristic features of industrial revolution?

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