Why hundreds of years behind in Indian economic development ?

Throughout the middle ages, Indian commodities were famous on Europe market. The main exported item was Indian textiles. In that period India existed universally identified for its atmospheric industrial development familiar with the latest world standards. In 1453 A.D., after the capture of Constantinople, the trade was badly discontinuous and raise the prices of Eastern commodities in the European markets. This conducted to the hopeless European look for a sea-route to India. Year after year Europeans research the west coast of Africa in the time before in 1487 the Portuguese rounded the Cape of Good Hope. After Ten years, Vasco DA Gama starts on an ocean trip and after taking up an Indian pilot on the African coast journey to India. The way was open now and by the time of the sixteenth century, the Portuguese had set up a mercantile establishment on the western Indian Coast. Shortly to follow were the English Merchandiser who, under the East India Company, secured by written agreement in 1612 from the Moghul emperor to establish a commodities depot in Surat.

At that time looked like nothing of value to offer India in the way of products comparable with the quality or technical measurement with Indian products. England was mainly agricultural in the middle age of the eighteenth century. In the year 1750 the Northern Counties still controlled their population less than one-third, Gloucestershire was more compact populated than Lancashire. There main industry was woolen industry, its capture the one third to one fourth of all export markets. But the climate of tropical India not a familiar to use of wool. For that reason precious metals had to be taken out to purchase the product in India. This had throughout history the case of most of India's business partners till the mid of the eighteenth century. In the 31 B.C. Romans are loose their precious metal for trading with India. For that reason East India Company's early stage in the development of trade with India could not carry on forever. The English businessman falls in trouble to find something to take in exchange of the goods they bought there.

In the middle of 18 th century the Mughal Empire in India was broken into parts and the central power of control was diminished as it faced challenges from local regional powers. After that evolution bourgeois capture in India and they had been set down according to a plan and showing interest amongst the powerful manufacturing, trading and shipping in India. The English agents had been in India at that lastingness for almost 200 years additionally they captured this opportunity to struggle and fascinate for the regional domination of India. In 1757 they declared war against the regional power of Bengal and they win in battle of Plassey and capture a vast region under their control. The company start their rulling without any restrictions and the wealth of India began to flood England in an ever-growing stream.

With no time intervening after, the great expectations series of inventions, such as the steam engine, began in Europe which been introduced the Industrial Revolution. The improvement of the age of innovation depended, not simply on as the most important power in England industrial history, Very shortly after Plassey, the Bengal loot began to accomplish in London, and the effect look to have been occurring with no delay, for all the governing authority considered that the 'industrial revolution',the event which has separated the nineteenth century from all antecedent time, began with the year 1760. The machinery used for spinning cotton in Lancashire was almost as simple as in India; while about 1750 the English iron industry was in full change because of the termination of forests for fuel.At that time maximum part of the iron used in the kingdom which came from Sweden. The plunder of India was therefore the hidden source of capital accumulation which played an important role in assisting to make achievable industrial revolution in England. One time the industrial capital was constituted in England, it required markets to sell its products to. It was once more India which was compelled, to take up these products to enable the industrial revolution in England to keep up it.India had to be de-industrialized in injunction to accomplish this. After a successful ending of a struggle of English industrial capital over its business capital, India's textile industry was demolished major to the devastation of its urban economy and the resulting overcrowding in the villages and pushing India hundreds of years behind in its economic development.