Why could Britain not recapture their hold on the Indian market after the First World War?

Why could Britain not recapture their hold on the Indian market after the First World War?

  • THE Worldwide economic crisis of 1929-1932 is generally known as Great Depression. It had a far reaching affect on Indian economy.
  • The Great Depression adversely affected Indian trade. India‚Äôs export and import was nearly halved between 1929 and 1934.
  • The jute producers of Bengal were hardly hit by depression. The prices of raw jute fell by 60% and as a result the jute grower fell under debt deeper and deeper.
  • Farmers and peasants suffered the most as compared to city dwellers. Though the prices fell, the British Government refused to reduce their revenue demands.
  • Starting as Civil Disobedience Movement by Mahatma Gandhi in 1930 was the direct result of this great depression because then rural India was seething with unrest.