EXPLAIN THE REACTION OF THE BUSINESS …
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Yogita Ingle 7 years, 3 months ago
1) During the First World War, Indian traders became more dominant and earned more profits.
2) Due to the Great Depression, Indian traders were affected and they wanted to prevent imports so that they could have a positive foreign exchange ratio.
3) The Indian Industrial and Commercial Congress was formed in 1920 and the Federation of the Indian Chamber of Commerce and Industries (FICCI) in 1927 to act as a pressure group to implement policies to favour industries.
4) Eminent industrialists were against the British authority upon Indian economy and funded the movement.
5) Foreign goods were not only boycotted but in many places were burnt.
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