Q. 154.3( 6 Votes )
The Indian Cotton export market collapsed, and the local market shrank at the beginning of the 19th century. Why?
The British cloth was very cheap. The Indian cloth was expensive as it was a hand-made and little bit uncomfortable at that time.
Their was an increase in the number of mills in Britain as a result of which huge quantities of cloth was produced at a very large scale.
In comparison to India Britain was producing on a very large scale. When the American civil war broke, there was pressure on India for all the imports in England.
As a result, a huge amount of loan was taken, and the debt increased at cotton was bought at an exorbitant price , after the war, the imports again came from America thus Indian producers had so much debt that couldn’t be repaid thus it declined on a very large scale.
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