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Question
Q. With reference to the Development of Capitalism during the colonial period, consider the following stages:
The correct chronological sequence of these stages in India is?
Q. With reference to the Development of Capitalism during the colonial period, consider the following stages:
The correct chronological sequence of these stages in India is?Open in App
Solution
The correct option is D 2, 3, 1
Explanation:
The First Stage is called Mercantile Capitalism (1757 to 1813): The Company exported large quantities of raw material that served as merchant capital for the British Industries in London.
The Second Stage is called Industrial Capitalism (1813 to 1858): India became the chief exporter of raw materials to British industries and also served as the main market to manufacture British goods.
The third Stage is called Financial Capitalism (1858 to 1947): England reinvested their finance in all major industries like steel, jute, cement and banking.
Explanation:
The First Stage is called Mercantile Capitalism (1757 to 1813): The Company exported large quantities of raw material that served as merchant capital for the British Industries in London.
The Second Stage is called Industrial Capitalism (1813 to 1858): India became the chief exporter of raw materials to British industries and also served as the main market to manufacture British goods.
The third Stage is called Financial Capitalism (1858 to 1947): England reinvested their finance in all major industries like steel, jute, cement and banking.
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