How did the British policies contribute to the de-industrialization of India, and how did this process affect the lives of Indian artisans and the broader economy?

De-Industrialisation

(1) One way free trade: of cheap british made goods into India made it difficult for domestic industries to compete.

(2) Tariffs: Indian exports were slapped with high duties while British exports were allowed a free entry.

(3) The Exchange rate: was arbitrarily fixed so as to discourage Indian exports.

(4) Commercialisation of agriculture: led to shortage of inputs for handicraft industries forcing them out of business.

(5) Lack of capital: British wanted to promote their own enterprises, therefore decreased access to affordable capital for Indian industrialists.

Lives of Indian artisans

(1) loss of traditional livelihood (2) increased poverty (3) forced rural outmigration into cities for work. (4) double whamy: British also coerced princely states dampening growth. This was detrimental to artisans who relied on royal patronage.

Broader Economy

(1) decreased the trade of India with other countries eg before 1750 India → 25% of global trade (2) Increased poverty manifold (3) led to surging inflation (4) decreased farmer incomes (5) led to landlessness due to exploitative revenue systems like permanent revenue system, Mahalwari, ryotwari etc (6) increased indebtness especially of farmers (7) led to frequent famines due to food insecurity (8) Bengal famine 1943, Deccan famine etc. (9) created regional disparities (10) rural v/s urban. (11) the laissez faire style increased economic inequality (12) Zamindars v/s peasants.