Industrial Revolution Monopolization
British had political control and they succeeded in monopolizing the trade with India. Their foreign rivals were defeated in trade and thus they did not face any competition. They also monopolized the export of all types of raw materials. They use to buy them at low prices whereas the Indian weavers had to buy them at overpriced prices. They imposed heavy duties on Indian goods on their entrance in Britain so to protect their own monopolized industry. They thought out of the box and did many investments to expand the communication and transport system in the country. This in turn to facilitated the transportation of raw materials from the fields to the port, and also the transportation of finished goods from the ports to the markets got
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They succeeded in gathering a lot of capital from the countries of Africa, Asia and America. Now they wanted to utilize this money by investing this wealth to set up industries and trade with India. The machines and mass production of goods through them made a big change in the lives of people around the world and the progress through them was established through the Industrial Revolution which took place during the late 18th and the early 19th century in England. England was the first to initiate this revolution. The Industrial revolution led to a massive products of ready-made products. Intially the East India Company gave them he support for finance and expansion of their industries. In experimenting with all this; a class of manufacturers in England discovered benefits of manufacturing products is more than trading. They got interested in getting more raw materials from India and also sending their finished goods back to India. Thus India became two fold benefactor for them. East india company faced rebellion of these manufacturers and between 1793 and 1813, they initiated a campaign against the East India company as a result of which company lost its trade monopoly and the privileges it use to receive. Ultimately, they get ahead in eradicating the East India Company’s monopoly of Indian
They succeeded in gathering a lot of capital from the countries of Africa, Asia and America. Now they wanted to utilize this money by investing this wealth to set up industries and trade with India. The machines and mass production of goods through them made a big change in the lives of people around the world and the progress through them was established through the Industrial Revolution which took place during the late 18th and the early 19th century in England. England was the first to initiate this revolution. The Industrial revolution led to a massive products of ready-made products. Intially the East India Company gave them he support for finance and expansion of their industries. In experimenting with all this; a class of manufacturers in England discovered benefits of manufacturing products is more than trading. They got interested in getting more raw materials from India and also sending their finished goods back to India. Thus India became two fold benefactor for them. East india company faced rebellion of these manufacturers and between 1793 and 1813, they initiated a campaign against the East India company as a result of which company lost its trade monopoly and the privileges it use to receive. Ultimately, they get ahead in eradicating the East India Company’s monopoly of Indian