Emergence of the Colonial Economy
- British-owned industries helped industrialisation of India.
- Industrial Revolution in England produced surplus goods for Indian markets.
- The Parsee community of western India took lead in setting up cotton mills.
- Sir Cowashji Jehangir opened the first cotto
- Initially, East India Company neglected the development of transport and communication.
- It was busy for expansion of authority and trade.
- They soon realised importance of transport to bring raw materials like jute, saltpeter, and cotton to the port for export.
- After the grant of Diwani Rights, the English tried to collect maximum revenue from the cultivators by giving out land to the highest bidder for five years.
- To avoid faults in the tax assessment of land and the uncertainty of revenue collections, the British introduced Permanen