Why did the linking of Indian capital to industry come so late?
How was the sophisticated and highly evolved world of the bazaar, so
completely shut out from the European preserves of modern banks, export-
import houses, plantations and factories?
What were the circumstances in which European enterprise carved out the
exclusive sphere of corporate industrial operations for itself?
What benefits did this European enterprise confer on the country in terms of
economic growth?
How is it that Bombay was the one region where Indian enterprise was able
to carve out an early role in that exclusive sphere?
Such questions are closely related to the basic question—why was the Indian
economy unable to effect an industrial revolution?
Was it too backward around 1800 for it to take off in the course of the
nineteenth century?
Or did under-development “develop” in India as a result of what is referred to
as “deindustrialisation” in the course of that century?
Machine-based industries The machine age began in India with the
starting of cotton textiles, jute and coal mining industries in the 1850s. The
development of other mechanical industries such as rice, flour and timber
mills, leather tanneries, woollen textiles, paper and sugar mills, iron and steel
works, and some mineral industries during the second half of the 19th century
and beginning of the 20th century contributed further to the growth of
modern industries in India.
Plantation industries Growth of plantation industries such as indigo,
rubber, tea and coffee during the 19th century was a significant development
in the British Indian economic history.
    Factors that attracted foreign capital to India were:
Prospects of high profits.
Availability of extremely cheap labour.
Ready and cheap availability of raw materials.
Providing ready market by India and its neighbours for many goods.
World demand for many Indian products such as the jute and manganese.
Willingness of the colonial government and officials to provide all help and
show all favours.