Explain the role of European Managing Agencies in India

cbse-class-10
history
age-industrilisation

#1

Explain the role of European Managing Agencies in India.
Ans. European Managing Agencies (e.g. Bird Heiglers and Co., Andrew Yule, Jardine Skinner and Co.) which dominated industrial production in India, were interested in certain kinds of products.
Acquiring land at cheap rates from the colonial government, they established tea and coffee plantations. They invested money in mining, indigo and jute.
Most of these products were used for export trade. Till the First World War, these agencies controlled a large sector of Indian industries.
These agencies mobilised capital, set-up joint stock companies and managed them.