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Why did the Export of Indian textile decline at the beginning of the nineteenth century? Explain any three reasons.
Answer:
Points to remember:
- Once the East India Company established political power , it could assert a monopoly right to trade.
- The company developed a system of management and control that would eliminate competition.
- Exports of British goods increased dramatically in the early 19th century. Cotton weavers in India faced collapsed export market and a shrank local market.
- The company eliminated competition, controlled costs, and ensured regular supplies of cotton and silk goods.
Answer to be written in Exam:
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- Indian Weavers could not compete with cheap machine-made British products that are bought and sold.
- The local market shrank being glutted with Manchester goods.
- When the American Civil War broke out and cotton supplies from the US were cut off, Britain turned to India. As raw cotton exports from India increased, the price of raw cotton shot up.
- High import duties on Indian Cotton Textile were imposed in England.
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