University:
California State University, Los Angeles
Course:
ECON 370 | Economic Development
Academic year:

2021
Views:

147

Pages:

4
Author:

sonalhava9qv

Imperialism and deIndustrialization of india What effects did the industrialization of cotton cloth production have on the Indian economy? In the 1750s much of the world bought its textiles from India India’s strong economy was destroyed by European industrialization. India’s handloom technology played the highest role in their economy which was done by Britain using machines 4500 miles away The selfish Britain’s didnt want to let the new machines get into India’s hands A fine cotton morning coat prudced by India for sale to a wealthy French aristrocrat (before de-industrialization) As a result destroying India’s economy, and millions of labourers lost their jobs So instead of exporting cloth India became an exporter of cotton This process is known as de-industrialization, it meant that a lot of profit from turning cloth in to cotton went to Britain instead of India Why was de-Industrialization bad for India? Economic collapse Loss of a thriving industry Shift from manufactured goods to raw material production Mass unemployment Job-Losses Forced Transition to agriculture Increased poverty and famines Raising food prices Famines Social and political instability Migration and displacement Weakening of local governing Loss of economic independence Colonial exploitation Long term economic Under development What political explanation does the author give for this economic failure? Economic failures in India were due to British political decisions to focus on profits. The East India Company focused on cash crops like cotton over food production. This leads to starvation and economic failure. - Economic activity fueled Indian social movements. The Swadeshi movement sought political and economic independence. The project promoted self-sufficiency and the revival of Indian industries.