Indian Entrepreneurship and the Rise of Modern Industries
The period 1858–1947 marked a crucial phase in the evolution of Indian industrial capitalism, driven by indigenous entrepreneurs amid a colonial economy structured for British benefit. Despite policies designed to keep India as a supplier of raw materials and consumer of British goods, several Indian industrialists laid the foundations of modern industrial enterprise. Indian entrepreneurship thus evolved from merchant capitalism to industrial capitalism, integrating traditional skills with modern technology.
Background
|
Key Aspect |
Description |
|
Deindustrialisation |
British imports destroyed traditional handicrafts and textile industries (notably Bengal, Dhaka, Surat). |
|
Drain of Wealth |
R.C. Dutt and Dadabhai Naoroji highlighted that India’s surplus was siphoned to Britain through “Home Charges”. |
|
Infrastructure .... |
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