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Question
How was the trading policy of British caused for the decline of the Indian Industries?
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Solution
- All the policies implemented by the British government in India had a deep impact on India’s indigenous industries.
- Free trade policy followed by the East India Company compelled the Indian traders to sell their goods below the market prices.
- This forced many craftsmen to abandon their ancestral handicraft talents.
- East India company’s aim was to buy the maximum quantity of Indian manufactured goods at the cheapest price and sell them to other European countries for a huge profit.
- This affected the traditional Indian industry.
- The British followed the policy of protective tariffs that was much against the trading interests of India.
- Heavy duties were charged on Indian goods in Britain, but at the same time, the English goods entering India were charged only nominal duties.
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