Question

Describe the contribution of the early Indian Industrialists in helping the industrial development of India.

Answer 1

Hint: Big business tycoons had made massive investments in several sectors and later shifted to the manufacturing sectors. In this way without any support of government it were these early Industrialists who won their own shape the industrial development of India.

Complete answer: Modern industrial development had begun during the Colonial period. Industrialisation started in the mid 19th century with the expansion of Railways which had linked Different cities.
Since there was present plenty of full cheap labour as well as raw material could be transported through the means of Railways thus it was easy to establish industries.
After the 1850s , cotton mills were established in Mumbai true Indian entrepreneurs as well as British owned Jute mills also established in the outskirts of Kolkata. All of this marked the beginning of modern industrial development.
Kolkata, Chennai and Mumbai were referred as raw material suppliers and the two proper industrial cities were Kanpur along with wool leather and cotton textile industry while Jamshedpur with the industries of steel. But all this did not indicate any kind of dramatic increase in India's economy because the discriminatory policies by the British industries had flourished after independence and introduction of neoliberal policies had the power to enable the private sectors to efficiently and effectively contribute to industrial development.

Note: The early Indian industrialists had not only shaped India's industrial development but also were in forefront in liberating India from the British occupation. At the time of the early modern era, some of the Indians accumulated large wealth because of the trade with China and European countries.