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
easy. They also introduced English education so that they can employ educated Indians who would help British officers in understanding Indian politics and administration in other words they wanted educated Ito Indian strengthen their political authority. With these measures Britishers were able to institute, consolidate and continue their rule successfully in India.

English merchants were able to accumulate a lot of capital with the help of Industrial revolution.
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
trade.
Thus a new era in history started as Britain made India its economic colony.

Now their path for investing thei wealth in setting up industries and trade with India was clear.
It started reversing the Indian trade and economy. Indian textiles such as cotton, silk, linen and woolen goods were in heavy demand and had markets in Asia and Africa. The Indian handloom which had a big market in Europe started vanishing. With the initiation of industrialization in England, the textile industry was targeted and England started to change the present market condition. The trade b etween Indian and England was now acquired a reverse direction. India now became the major colony to suppy raw material and using that raw material England industries manufactured machine made clothes and sent them again to reap profit out of their own grown raw material. These cheap machine made clothes increased threat for the handicraft industries. The British cunningly sold their goods at a cheap price as valuable foreign goods were succeeded in getting free entry in India without paying any duty however, Indian handicrafts were taxed heavily when they were exported out of the country. British governemtn was under heavy pressure imposed imposed a protective tariff on Indian textiles. Colonial system completely changed the India’s position in textile trading India which was once an exporter of clothes became an exporter of raw cotton and an importer of British clothes. Britain used each and every bit of India its, agriculture, industries and manpower to establish its monopoly in world trade market. The unemployed Indian weavers were made to work in factories on meagre wages. Other people like Munnoo also faced the pressure of this industrialization because of societal and class problem.