Question

What is the influence of colonialism in determining the Indian business rationale? Do you think that post-independence developments altered the rationale?

Answer 1

Colonialism has an important role in determining the business ability of India which the British have took advantage of. Determining the resources of India, British have introduced many business structural changes in India which were directly benefitting for them. India, an agriculture oriented nation were introduced to production and exports of various commodities including steel, textiles, precious stones etc. Exports of spices were also an important part of colonial business pattern in India.
Colonialism exploited Indian business opportunities for their advantage. They aimed making India an exporter of raw materials to other countries, especially for them and ending up creating India a consumer of finished goods. The industrial policy which was adopted in the colonial period was actually harming India. Losing resources were an important drawback for the Indian business rationale before independence. The business rationale created at the time of colonialism made very less benefits to India. Basic industrial development can be considered as one among them.
The post independence development could lead to change the idea of exporting raw materials than using for the domestic need. Business rationale evolved to exploit the resources for domestic production and consumption. Industrial policies since independence could attain better industrial facilities and production of finished goods here itself rather than importing the same. From exporting raw materials and importing finished goods, the business structure changes to exporting finished goods for the domestic and international consumption.