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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.