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

CBSE Class 10 CBSE Class 10 Social Science
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Why could Britain not recapture their hold on the Indian market after the First World War?

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  • 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’s 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.