Recapture of Home Market by Indian Industrialists


 
 
Concept Explanation
 

Recapture of Home Market by Indian Industrialists

Recapture of Home Market by Indian Industrialists: As Swadeshi Movement became stronger, the nationalist leaders urged the people to boycott foreign goods. Industrialist groups pressurised the government to increase tariff protection and grant other concessions. From 1906, the export of Indian yarn to China declined as the products of China and Japan flooded the Chinese market.

Industrialist in India started cotton cloth production and this production doubled between 1900 and 1912. Till the First World War, industrial growth was slow. The British mills were busy to produce goods for the army, thus Manchester imports into India declined. Suddenly, Indian mills had a vast home market to supply.

New factories were set up and old ones ran multiple shifts. Over the war years, industrial production boomed. Indian factories making jute bags, cloth for army uniforms, tents and leather boots, horse and mule, saddles, etc.

After the war, Britain could never recapture its old position in Indian market. Britain could not compete with US, Germany and Japan and the economy of Britain was collapsed after the war.

 
 


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