Question

With reference to 'deindustrialization' which of the following statements is/are correct?

1. This process started in 1813.
2. Abolition of monopoly trade rights of East India Company aggravated the process.

• A. 1 only
• B. None of these
• C. 1, 2
• D. All of these

Answer 1

Answer:

D. All of these

• In India deindustrialization started in 1813. The company's commercial monopoly came to an end, except for the tea and opium trade and the trade with China. With the enforcement of Saint Helena Act of 1833 also known as the government of India Act, 1833 the process of deindustrialization was aggravated as it ended the activities of British East India Company as a trade body and it became a purely administrative body. In particular, the Company lost its monopoly on trade with China and other parts of the far East.