IGNOU HISTORY NOTES : Modern India - THE GROWTH OF INDIAN CAPITALISM, THE CAPITALISTCLASS AND THE FREEDOM STRUGGLE

IGNOU HISTORY Study Notes for IAS, UPSC Exams

 Modern India 1857-1964

THE GROWTH OF INDIAN CAPITALISM, THE CAPITALISTCLASS AND THE FREEDOM STRUGGLE

Structure
3 1.0 Objectives
3 1.1 Introduction
31.2 Growth of Indian Economy and the Indian Capitalist Class
3 1.3 The Emergence of a Class Organisation
3 1.3.1 Role in the Economic Sphere
3 1.3.2 Role in the Political Sphere
3 1.4 Nature of Anti-imperialism: The Constitutional Path
3 1.5 Congress and the Capitalists
3 1.6 Capitalists' View of the Congress
3 1.6.1 Approaching the Congress
3 1.6.2 Capitalists' Strategy to Contain the Left
3 1.7 Let Us Sum Up
3 1.8 Key Words
3 1.9 Answers to Check Your Progress Exercises

31.0 OBJECTIVES

After reading this unit you will get to know about the:

• growth of the Indian Capitalist Class in the context of colonialism and the colonial economy,
• attitude of the Indian Capitalists as a class towards colonialism,
• attitude of the Indian Capitalists towards the mass movements and the left, and
• relationship between the Capitalist Class and the Indian National Congress.

31.1 INTRODUCTION

The Indian National Movement was, in its initial stages during the second half of the nineteenth century, mainly confined to the educated middle classes. However, in course of time, it began to expand its social base and gradually other classes and sections of society began to join it. The nature of the role played by various classes and social groups and the timing of their joining the national struggle varied. In this unit, we will discuss the role of the Indian capitalist class in the freedom struggle. The modem capitalist class began to emerge in India in the second half of the nineteenth century. Till about World War I, there were few Indian capitalists and the size of their investments was also not substantial. Morever. they were as yet largely dependent on the colonial government's support. At this stage of development, it was hardly possible for the Indian capitalists as a class to take an open confrontationist position with regard to the colonial state. The capitalists stayed away from the Swadeshi Movement of 1905-1908. At the time of the Non-Cooperation Movement (1920-22), while many traders participated in the movement, several eminent capitalists like Purshottamdas Thakurdas actually opposed the movement. Subsequently. however, the capitalists' position changed. There were many Indian capitalists who extended their support to the freedom struggle.

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