(a) Effects: (i) The functioning of the Indian merchants was limited. For example, they were debarred from trading with Europe in manufactured goods. (ii) The Indian merchants could export mostly raw materials and food grains which were needed by the British. (iii) Gradually, shipping business was cRead more
(a) Effects: (i) The functioning of the Indian merchants was limited. For example, they were debarred from trading with Europe in manufactured goods.
(ii) The Indian merchants could export mostly raw materials and food grains which were needed by the British.
(iii) Gradually, shipping business was controlled by the European companies and Indian marchants were edged out of this business.
(b) Till the First World War, the condition of Indian industries had become as mentioned below:
(l) A large sector of Indian industries was controlled by European Managing Agencies.
(ii) These Agencies mobilised capital, set up joint-stock companies and managed them.
(iii) In most instances, Indian financiers provided the capital while the European Agencies made all investment and business decisions.
(iv) The European merchant-industrialists had their own chambers of commerce which Indian businessmen were not allowed to join.
The achievements of early entrepreneurs in India were as follows: (l) During opium trade with China, many Indians provided finance, procured supplies and got shipping consignments. For example in Bengal, Dwarka Nath Tagore made his fortune and set up six joint-stock companies in the 1830s and 1840s.Read more
The achievements of early entrepreneurs in India were as follows:
(l) During opium trade with China, many Indians provided finance, procured supplies and got shipping consignments. For example in Bengal, Dwarka Nath Tagore made his fortune and set up six joint-stock companies in the 1830s and 1840s.
(ii) In Bombay, Parsis like Dinshaw Petit and Jamsetjee Nusserwanjee Tata who built huge industrial empires in India, accumulated their initial wealth partly from exports to china and partly from raw cotton shipments to England.
(iii) Seth Hukumchand, a Marwari businessman set up first Indian jute mill in calcutta in 1917. He traded with China.
(iv) The father and grandfather of the famous industrialist G.D. Birla also traded with China.
In 1772, Henry Patullo, a Company official, had said that the demand for Indian textiles could never reduce because no other nation produced goods of the same quality. Yet the textile exports declined from 33 per cent of Indian exports in 1811-12 to 3 per cent in 1850-51. The reasons for this declinRead more
In 1772, Henry Patullo, a Company official, had said that the demand for Indian textiles could never reduce because no other nation produced goods of the same quality. Yet the textile exports declined from 33 per cent of Indian exports in 1811-12 to 3 per cent in 1850-51.
The reasons for this decline were as given below:
(l) Import duties on Indian textiles in Britain: After the development of cotton industries, the government imposed import duties on cotton textile to protect the interest of the industrialists who could sell their goods without any competition from outside.
(ii) Sale of British goods: East India Company started selling British goods in the Indian market.
(iii) Cheap and durable goods from Manchester: the British increased the exports of British goods. Indian weavers could not compete with cheap, durable and showy goods from Manchester. This led to the decline of taxtile exports from India in the later half of the nineteenth century.
(iv) Scarcity of good raw cotton: There was a great scarcity of good quality of raw cotton as these were exported to England. This affected the Indian textiles because weavers could not get supplies and sometimes, they were forced to buy at high prices.
The problems faced by the Indian weavers were as given below: (i) With the development of cotton industries in England, the Indian cotton weavers could not sell their textiles there due to import duties. (ii) East India Company began to sell British goods in India. Cotton piece-goods were imported iRead more
The problems faced by the Indian weavers were as given below:
(i) With the development of cotton industries in England, the Indian cotton weavers could not sell their textiles there due to import duties.
(ii) East India Company began to sell British goods in India. Cotton piece-goods were imported into India. By 1870 cotton piece-goods constituted over 50 per cent of Indian imports. The Indian markets were flooded with Manchester goods. Produced by machines at lower costs, the imported goods were very cheap and weavers could not compete with them.
(iii) Insufficient supply of raw cotton of good quality: During the American Civil War, Britain could not get cotton supplies from the US. Thus, raw cotton was exported from India to Britain. As a result of this, the Indian weavers could not get supplies and sometimes, they were forced to buy at high prices.
(iv) The weavers again faced a problem by the end of the nineteenth century when factories in India began production. The market was flooded with machine-goods and it became difficult for weavers to compete with them.
(a) Gomastha was a paid servant of the East India company. (b) His functions were to supervise weavers, collect supplies and examine the quality of cloth. (c) Earlier supply merchants very often lived within the weaving villages. They had a close relationship with the weavers. They looked after theiRead more
(a) Gomastha was a paid servant of the East India company.
(b) His functions were to supervise weavers, collect supplies and examine the quality of cloth.
(c) Earlier supply merchants very often lived within the weaving villages. They had a close relationship with the weavers. They looked after their needs. They used to help the weavers in times of crisis. On the other hand, gomasthas were paid servants of the Company. They were outsiders. They had no social link with the village. Sometimes they acted arrogantly, marched into villages with sepoys and peons and punished weavers for delays in supply. They often beat and flogged them. Such actions on the part of the gomasthos led to clashes with weavers.
Mention three restrictions imposed by the British government upon the Indian merchants in the 19th century.
(a) Effects: (i) The functioning of the Indian merchants was limited. For example, they were debarred from trading with Europe in manufactured goods. (ii) The Indian merchants could export mostly raw materials and food grains which were needed by the British. (iii) Gradually, shipping business was cRead more
(a) Effects: (i) The functioning of the Indian merchants was limited. For example, they were debarred from trading with Europe in manufactured goods.
See less(ii) The Indian merchants could export mostly raw materials and food grains which were needed by the British.
(iii) Gradually, shipping business was controlled by the European companies and Indian marchants were edged out of this business.
(b) Till the First World War, the condition of Indian industries had become as mentioned below:
(l) A large sector of Indian industries was controlled by European Managing Agencies.
(ii) These Agencies mobilised capital, set up joint-stock companies and managed them.
(iii) In most instances, Indian financiers provided the capital while the European Agencies made all investment and business decisions.
(iv) The European merchant-industrialists had their own chambers of commerce which Indian businessmen were not allowed to join.
Mention the names of three Indian enterprepreneurs and their individual contribution during the 19th century.
The achievements of early entrepreneurs in India were as follows: (l) During opium trade with China, many Indians provided finance, procured supplies and got shipping consignments. For example in Bengal, Dwarka Nath Tagore made his fortune and set up six joint-stock companies in the 1830s and 1840s.Read more
The achievements of early entrepreneurs in India were as follows:
See less(l) During opium trade with China, many Indians provided finance, procured supplies and got shipping consignments. For example in Bengal, Dwarka Nath Tagore made his fortune and set up six joint-stock companies in the 1830s and 1840s.
(ii) In Bombay, Parsis like Dinshaw Petit and Jamsetjee Nusserwanjee Tata who built huge industrial empires in India, accumulated their initial wealth partly from exports to china and partly from raw cotton shipments to England.
(iii) Seth Hukumchand, a Marwari businessman set up first Indian jute mill in calcutta in 1917. He traded with China.
(iv) The father and grandfather of the famous industrialist G.D. Birla also traded with China.
After industrial development in England what steps did the British govt. take to prevent competition with the Indian textiles.
In 1772, Henry Patullo, a Company official, had said that the demand for Indian textiles could never reduce because no other nation produced goods of the same quality. Yet the textile exports declined from 33 per cent of Indian exports in 1811-12 to 3 per cent in 1850-51. The reasons for this declinRead more
In 1772, Henry Patullo, a Company official, had said that the demand for Indian textiles could never reduce because no other nation produced goods of the same quality. Yet the textile exports declined from 33 per cent of Indian exports in 1811-12 to 3 per cent in 1850-51.
See lessThe reasons for this decline were as given below:
(l) Import duties on Indian textiles in Britain: After the development of cotton industries, the government imposed import duties on cotton textile to protect the interest of the industrialists who could sell their goods without any competition from outside.
(ii) Sale of British goods: East India Company started selling British goods in the Indian market.
(iii) Cheap and durable goods from Manchester: the British increased the exports of British goods. Indian weavers could not compete with cheap, durable and showy goods from Manchester. This led to the decline of taxtile exports from India in the later half of the nineteenth century.
(iv) Scarcity of good raw cotton: There was a great scarcity of good quality of raw cotton as these were exported to England. This affected the Indian textiles because weavers could not get supplies and sometimes, they were forced to buy at high prices.
Explain any three problems faced by the Indian weavers in 1850s.
The problems faced by the Indian weavers were as given below: (i) With the development of cotton industries in England, the Indian cotton weavers could not sell their textiles there due to import duties. (ii) East India Company began to sell British goods in India. Cotton piece-goods were imported iRead more
The problems faced by the Indian weavers were as given below:
See less(i) With the development of cotton industries in England, the Indian cotton weavers could not sell their textiles there due to import duties.
(ii) East India Company began to sell British goods in India. Cotton piece-goods were imported into India. By 1870 cotton piece-goods constituted over 50 per cent of Indian imports. The Indian markets were flooded with Manchester goods. Produced by machines at lower costs, the imported goods were very cheap and weavers could not compete with them.
(iii) Insufficient supply of raw cotton of good quality: During the American Civil War, Britain could not get cotton supplies from the US. Thus, raw cotton was exported from India to Britain. As a result of this, the Indian weavers could not get supplies and sometimes, they were forced to buy at high prices.
(iv) The weavers again faced a problem by the end of the nineteenth century when factories in India began production. The market was flooded with machine-goods and it became difficult for weavers to compete with them.
Who were gomosthas? Write any two functions.
(a) Gomastha was a paid servant of the East India company. (b) His functions were to supervise weavers, collect supplies and examine the quality of cloth. (c) Earlier supply merchants very often lived within the weaving villages. They had a close relationship with the weavers. They looked after theiRead more
(a) Gomastha was a paid servant of the East India company.
See less(b) His functions were to supervise weavers, collect supplies and examine the quality of cloth.
(c) Earlier supply merchants very often lived within the weaving villages. They had a close relationship with the weavers. They looked after their needs. They used to help the weavers in times of crisis. On the other hand, gomasthas were paid servants of the Company. They were outsiders. They had no social link with the village. Sometimes they acted arrogantly, marched into villages with sepoys and peons and punished weavers for delays in supply. They often beat and flogged them. Such actions on the part of the gomasthos led to clashes with weavers.