Friday, June 24, 2011

Indian Economy at the beginning of the 19th Centuy (contd-1)

After re-establishing trade relation of India with different parts of the world the ports were gradually developing. At the 30's there were several unrests of the workers of Great Britain,e.g., 1. Lechattliers movement, 2. Ludhite movement etc. As a result the British Industrial Capitalists began to shift their capital to India at the middle of the 19th century. That was why the heavy industries began to form in India.The first railine was constructed in India in 1953. All the infrustructure were being prepared very soon to enhance the capitalist exploitation in India.This was done in the period of Lord Dalhousie (1848-1856). From this time the Indian money lenders from Calcutta and Bombay converted to a new set of trade families.
At the middle of the 19th century India Bourgeoisie began to develop.
Thus at 30's,40's, and 50's the Indian Industrial Capitalists began to grow. These were mainly cotton mills at Bombay and Calcutta. But the rate of expansion of Indian Capitalists was very low.The main economic relation was 'C--M'( Commoditee- Money relation), at that stage.
1.The colonial exploitation was mainly based on imposing increasing tax structure to the zaminders who in turn raised the taxes from the cultivators converting their condition wretched.
2. Increasing the area of economic exploitation.
As a result India was gradually converted to an agency of supplying raw materials and agricultural products to Great Britain. Simultaneously , developing feudalistic society within India which was obstructing the formation of capitalist relation within India.