Question
How did the Industrial Revolution in England affect India's Economy? Describe.
Solution
The Industrial Revolution in England became the chief cause of India's poverty. As India was a colony of England it hit the Indian Economy adversely. The constant drain on India's economy by the ways of the purchase of raw material at very cheap rates and through the heavy import of British goods.
Due to the Industrial Revolution in England India's economy was affected in the following way:
1. The Industrial Devolution enabled England to produce more goods than needed there. So the Indian markets were flooded by the machines made goods from England. As a result of this, India which was at one time an exporting country was reduced to a big consumer of the English goods.
2. The Industrial Revolution in England threw the Indian artisans and handicrafts men out of job. As a result, Indian small scale household workshops became useless.
3. The British Government forced the Indian farmers to sell their raw material at cheap rates to the British factory owners. This policy of exploiting the Indian economy for the benefit of the British capitalist was the direct consequence of the Industrial Revolution on India's economy.
4. The unemployed artisans again became the farm labourers and over burdened the Indian agriculture. In this way, within very short time, India became a poor country where agriculture was the only occupation of the people.
5. Before the advent of the Industrial Revolution, India was a major producer of cotton, woollen and silken cloth. But now she suffered a severe set back in these industries. As the British machine-made cloth was cheaper than the Indian cloth.
6. The Indian goods could not compete with the British machines made goods as the British Government in India imposed heavy duties on the Indian goods and discouraged the Indian craftsmen in many other ways so that they could never think of competing with the British goods.
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