Q. Why was it difficult for the Indian industrialists set up industries in India ?
Asked by debaratib24 | 4th Jul, 2015, 01:42: AM
During the early period of the colonial rule, it was difficult for the Indian industrialists to set up industries in India because the European traders and the Comapny officals first secured many trading concessions and then monopoly right to trade form the local Indian courts. The Battle of Plassey in 1757 paved way for the Europeanisation of trade and industry of the country. The decline in old ports of Surat and Hoogly during this period led to the bankrupcy of many bankers and traders who could advance loans to the industrialists for opening industries. India was also reduced to the position of principal exporter of raw materials to Britain for its industries.Under such circumstances it was difficult for the industrialists to open industries in India. Further the British policy of free trade also harmed the Indian industries.This sitaution, however began to change duringt the First World War.
Answered by Social Science Expert | 5th Jul, 2015, 04:46: PM
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