GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Export of finished goods
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Massive unemployment
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Both (a) and (b)
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None of the above
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Detailed explanation-1: -The decline of handicraft industries led to: Large scale unemployment Encouraged the import of manufactured goods from Britain-Economics. The decline of handicraft industries led to: Large scale unemployment. Encouraged the import of manufactured goods from Britain.
Detailed explanation-2: -Indian handicrafts that had made the country famous collapsed under the colonial rule. This was mainly due to the competition posed by the machine-made goods that were imported from Britain by the British rulers.
Detailed explanation-3: -CBSE, JEE, NEET, CUET. Decline in Handicraft Industry affected the Indian economy in the following ways-1-HIGH LEVEL OF UNEMPLOYMENT-The decline of handicraft industry resulted in unemployment on a mass scale . The displaced artisans were forced to take up agriculture for their livelihood .
Detailed explanation-4: -Decline of the indigenous handicrafts created the unemployment in India. 2. It created a new demand in the Indian consumers’ market which was now deprived of the supply of the local made goods. This demand was profitably met by the increasing import of cheap manufactured goods from Britain.