Describe briefly the history of modern industrial development in India.
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Solution
Modern industrial
development began in the colonial period. Industrialisation started in mid-19th
century with the expansion of railways that linked different cities.
As there was
plentiful cheap labour and raw material could be transported through railways
it was easy to establish industries.
After 1850s cotton
mills were established in Mumbai by Indian entrepreneurs and British owned jute
mills were established in the outskirts of Kolkata. This marked the beginning
of modern industrial development.
Kolkata, Chennai and Mumbai were raw material suppliers and two proper industrial cities were
Kanpur with wool, leather and cotton textile industry and Jamshedpur with steel
industries.
But this did not
signify any dramatic increase in country's economy due to discriminatory
policies by British.
Industries flourished
after independence and introduction of neoliberal policies could enable private
sectors to efficiently contribute to the industrial development.