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Preeti Dabral 2 years, 9 months ago
The position of industries at the time of independence was not satisfactory.
Following were the features of Indian industries:
- The decline of the Handicraft Industry- The Britishers followed the policy of destroying the traditional handicraft industry by allowing free import of manufactured goods from British and restricting export tariffs by playing heavy-duty on Indian handicrafts. Such a decline in the handicraft industry is called deindustrialisation.
- Lack of Basic Industries- There was a lack of basic industries such as iron and steel, coal and capital goods.
- Limited Role of the Public Sector- Public sector was confined to railways, power generation, communication, ports, etc.
- Lack of Incentives- The British government did not provide incentives to Indian entrepreneurs to establish various industries. This resulted in a lack of sound industrial base. There was the downfall of cottage industries.
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