UPSC Prelims 1999·GS1·history·modern history

There was no independent development of industries in India during British rule because of the

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  1. Aabsence of heavy industries
  2. Bscarcity of foreign capital
  3. Cscarcity of natural resources
  4. Dpreference of the rich to invest in landCorrect

Explanation

The correct option is D because during the British rule, the Indian social and economic structure encouraged the wealthy classes, such as zamindars and local elites, to invest their surplus wealth in land rather than in risky industrial ventures. Land ownership was seen as a more secure, prestigious, and socially rewarding investment under the existing colonial land revenue systems. This diverted the necessary domestic capital away from industrialization. While the other factors like the absence of heavy industries were consequences of colonial policy, the lack of indigenous investment in the industrial sector was primarily due to the preference for land and real estate.
history: There was no independent development of industries in India during British rule because of the

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