How Did Industries Develop in India in the Second Half of the Nineteenth Century? Explain.

Dwarkanath Tagore in Bengal, Parsis like Dinshaw Petit, Jamsetjee Nusserwanjee Tata in Bombay and Seth Hukumchand, and a Marwari businessman set up first Indian jute mill in Calcutta.

These early entrepreneurs had accumulated wealth from the trade with China, the merchants of Madras from trade with Burma and the others from the trade with the Middle East and east Africa.

There were another group of entrepreneurs who had accumulated wealth from trade within India, supplying goods from one place to another, banking money, transferring funds between cities and by financing the traders.

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