NATIONAL TALENT SEARCH EXAMINATION (NTSE) SOCIAL SCIENCE (HISTORY) (INDUSTRIAL REVOLUTION) BY: SUDESHNA MOHAPATRA
Factories comes up in INDIA The first cotton mill in Bombay came up in 1854 and it went into production two years later By 1862 four mills were in operation. Jute mills also came up in Bengal around the same time The Elgin Mill was started in Kanpur in the 1860s. In Ahmadabad, the first cotton mill was set up in the same period By 1874, the first cotton mill of Madras began production
The Early Entrepreneurs . The history of many business groups goes back to trade with China. From the late eighteenth century, the British in India began to export opium to China and import tea from there Once these businessmen earned enough, they dreamt of developing industrial enterprises in India.
Dwarknanath Tagore was among the pioneers to begin industries in the 1830s and 1840s. Tagore's enterprise sank during the business crises of the 1840s. But in the later nineteenth century, many businessmen became successful industrialists. In Bombay, Parsis like Dinshaw Petit and Jamsetjee Nusserwanjee Tata went on to build huge industrial empires.
Seth Hukumchand; a Marwari businessman; set up the first Indian jute mill in Calcutta in 1917. . The Birla Group was similarly started by successful traders from China. Capital was also accumulated through other trade networks; like Burma, the Middle East and Africa.
There was a virtual stranglehold of the British players on business in lndia which leaved little scope for growth of Indian merchants. Till the First World War, European Managing Agencies controlled a large sector of Indian industries
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