Yarasi Tusharika185 wordsTheir whole copy
Opening · a definition
'Mercantilism' is a strategy which involves increased production of exports and decreased imports in order to increase the accumulation of wealth. It involves buying something for cheap prices and selling them at higher prices.
Body · points
Impact of Mercantilism on Socio-economic conditions in colonial India
- Exploitation of Indian industry - Deindustrialisation occured due to cheap imports of various goods which led to adverse effects on Indian
Craftsmen and their work.
Ex:- Machine made textiles
Increased import duties on British goods has damaged the Indian economy.
Rise in plantation crops - like Indigo, Tobacco, Rubber, cotton etc., for cheap raw materials.
Decreased competitiveness of Indian products in International industry due to reduced duties on export and cheap products due to industrial revolution.
Slavery increased - slave trade had risen due to requirement of labour for production.
Exploitation of farmers by levying heavy taxes.
Rise of oppression by East India Company. Ex:- Dastaks for company workers
Exploitation of traditional handicrafts Products.
Close · a summary
'Mercantilism' marked the beginning of imperialism and colonialism in India and led to damage of Indian Industries and societal damages.
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