ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Deindustrialization is a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry.

Detailed explanation-2: -British industrialization led to de-industrialization in India. New groups emerged to take advantage of the economic opportunities provided by colonialism. The emergence of new business communities transformed trade, banking, industry etc.

Detailed explanation-3: -In other words, the term de-industrialisation means a general reduction in the industrial capacity and came into prevalence in India with the decline and collapse of the handicrafts industry by external competition from British-manufactured products during the 19th century.

Detailed explanation-4: -Deindustrialization due to the natural development of the economy. Deindustrialization due to structural problems. Increased productivity. International trade specialization. Changing consumer spending patterns. Low competitiveness. Increased competitive pressure. More items •12-Apr-2022