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With the advent of Industrial Revolution in England, the expanding textile industries needed raw materials and markets for their finished goods, so India was robbed of its wealth for the production and exportation of cotton and other raw materials. Not only did Britain drain India of its raw materials, but also annihilated Indian handicraft industries by exposing them the competition of cheap machine products coming from Britain, in no way could there be an accumulation of capital for India. The de-industrialization of India into an agricultural economy left millions jobless and eventually accounted for widespread famines and increasing poverty in the 19th century...
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