Indian Industrial Revolution
The era of industrial revolution marked a widespread change in the economic settings of the Indian community. With its inception at the 18th and 19th centuries, this phenomenon struggled to shatter the yokes of cultural, social and economic bondages. Taking a deeper view of history, we infer that the period of industrial revolution in India had its very beginning at the dawn of industrial revolution at Britain (during 1775 - 1850).
Subjecting the nature of Industrial Revolutions down the rut, the three necessities of the Revolution are laid bare
- Market
- Raw Materials
- Capital
Where there's a joint cohesion of all the three factors, amply mixed at right proportions at right time, a Revolution begins.
Self Sustenance is the basic ideology behind the pumping of Capital, as it acts as a basic input for entire machinery of Industrial revolution to run. Even a treatise on the importance of Raw Materials and the Market wouldn't justify.
But where was the reservoir that had all the three in abundance? Which nation had the impetus to charge the millions of underfed, homeless with Life? And the British saw that potential in India.
On the historic eve of 23rd June 1757, The English East India Company won a decisive victory in the Battle of Plassey, and the mighty warriors of Siraj-ud- Daula, were bent towards the British's will. This paved way of Industrial Revolution in India, and it's no secret of those less than twenty years after that the Indian Industrial Revolution launched off.
India provided all the three in abundance, Capital, Market and Raw Materials, Everything was there in India in abundance, and India was the largest textile manufacturing centre. The revolution in Britain was funded by India.
Scholars agree on the consensus of heightened intellectual pace, and the union of business among the People of Post- Independence era. However, there was an incubation time of 20 years before the buds of Industrial revolution rooted up in India. Scholars account it to errors in developmental strategy; the two thought occupiers at that era were the inception and creation of self reliant villages. The other thought was a commission to democracy, while India applauded and cheered the Midas of economy - Soviets. At that time, they did not wished or tried to implement the booming economy of Russians, instead they tried to evolve a new system called as Democratic socialism. It lauded the policies of equality amongst all classes whilst exalting the virtue of democracy.
The planning model religiously followed by India was Das Lambast, which had its aim only of increasing the investments and raising savings. Many elite minds of that century risked their hopes on Railways, as countries such as Unites states of America, Germany and France seemed to claim a rapid developmental phase of industrial revolution primarily held and knitted by railways, however that failed to produce any such mirror effect in India.
Coming back to this present era, the market we are faces with now, offers a good chance for competing against the international giants. It requires a decent curriculum to put this in effect.