Updated | August 6, 2017 16:25 IST
After a long struggle, Indian industry had got a little help from the British government. Yet, a very large number of factories, banks, ships etc., were in the hands of Europeans, not in the hands of Indians. Being European had many advantages for these companies. They had easy access to all types of officers and authorities of the British government, whereas Indians were never likely to have such reach. All the foreign trade was in the hands of European companies, hence, they had no shortage of funds either.
Despite the influence of the Europeans, Indian industrialists advanced a great deal. For example, Indian industrialists were in control of the textile industry. The greatest example of the achievements of Indian industrialists was the setting up of a steel factory at Jamshedpur by an industrialist named Jamshedji Tata.
The help received by Indian industrialists from the government in the form of a tax on foreign goods was important but hardly adequate. Many resources and facilities were needed such as railways, roads, electricity, coal, and iron. However, the British government did not pay adequate attention to development in these areas.
Indian industrialists also had to buy all their machines from abroad. Industries that would manufacture machinery had simply not started in India. For the development of industry, help was needed from scientists, engineers, and technicians. Educated workers at all levels were needed. But education was not given adequate importance in India. Foreigners had to be relied on for industrial development because the number of Indian scientists and engineers was very small.
In order to promote the interests of Indian industry, many organizations of industrialists were former even during British times. One of the most important was the Federation of Indian Chambers of Commerce and Industries(FICCI). Such organizations would keep bringing up the problems of the industrialists before the government.
With the end of the British rule in India and the formation of a free government of Indians the situation changed. The government of India gave encouragement to the growth of industries in a planned fashion.
Well, here were the some of the pioneers among Indian industrialists were J.N.Tata, R.D.Tata, Sir R.J.Tata and Sir D.J.Tata.
Keywords:Problems for Indian industries at the time of Independence, problems for Industrial development in India, Independence Time, problems faced by indian industrialists at the time of Independence
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