THE INDUSTRIAL REVOLUTIONTHE INDUSTRIAL REVOLUTION

BYSUNIT MATHEW

RevolutionIntroductionA revolution is a fundamental change in power or organizational structures that takes place in a relatively short period of time. Revolutions have occurred through human history and vary widely in terms of methods, duration, and motivating ideology. Their results include major changes in culture, economy, and socio political institutions.

Revolutions can be of many types. Some of the revolutions are stated below:-

Green RevolutionScientific RevolutionIndustrial RevolutionChemical Revolution

During the 1700s changes in technology began based on the use of power-driven machinery. This era is called the Industrial Revolution.

• Exploration and colonialism

• Seapower

• Political stability

• Government support

• Growth of private investment

Factors for Success• Research and development on

farms

• Jethro Tull, seed drill

• Improved livestock breeding

• Better varieties of food crops

– Increased food supply

– Population grew

• Enclosure movement

Agricultural Factors

A Revolution in Great Britain

Britain’s Big Advantage

The Industrial Revolution began in Great Britain.

• Had essential elements for economic success

• Factors of production

Land

Labor

Capital

Textile Industry• Beginning of Industrial Revolution• Weaving was a cottage industry• Labour performed at home• Industrialization transformed this

• Fabric made of wool or cotton• Supply of fibers increased in the

1700s• Slave labor in America• Invention of cotton gin• Invention of spinning jenny• Invention of flying shuttle

New Way of Making Cloth• Cottages too small

• Factory invented

• Power for factories?

• Water frame for water power

• Output increased 8x by 1770

Cloth-making in Factories

A Revolution in Textiles

• Steam engines needed large amounts of fuel

• Wood scarce

• Coal mining industry

• Changing landscapes

• Dangers of mining

Coal for Steam Engines

• First successful steam engine in 1712

• Innovations by James Watt

• Steam power versus water power

• Steam locomotives

• Steamships

• Robert Fulton

Development of Steam Engine

Steam Powers the Revolution

JAMES WATT

Industrialization soon spread to western Europe and the United States. Other regions did not industrialize in the 1800s. What was it about Western countries that encouraged them to embrace industry?

• Political liberty

• Freedom to compete

• Rewards reaped

• Exploitation and improvements

Why Western Countries?

• British restrictions

• Hamilton, 1791

• Samuel Slater

– Water frame

– Slater’s Mill

• Lowell’s Mill

America

• Belgium, 1807

• France, 1815

• Germany, 1850

– Railroads

– Treaties

Europe

Industrialization Spreads

Industry in AsiaEventually, industry spread to Asia.

• Japan first in 1868

• Meiji government

• The 1900s—industrialization for

– China

– India

– Russia

Industrial Revolution

Thus new innovations grew in the Industrial Revolution. After that new innovations grew in the 18 th and 19 th centuries such as Roads RailwaysMiningCoal industries Child LabourDue to this revolution in Britain it expanded in U.S.A., France, Germany, Japan etc. But, some problems grew i.e. child labour, capitalism etc.

Industrial Revolution

The Industrial Revolution was a period in the late 18th and early 19th centuries when major changes in agriculture, manufacturing, production, and transportation had a profound effect on the socioeconomic and cultural conditions. It firstly took place in Britain.

Industrial Revolution Innovations Textiles - Cotton spinning using Richard Arkwright's water frame, James Hargreaves's Spinning Jenny, and Samuel Crompton's Spinning Mule (a combination of the Spinning Jenny and the Water Frame).Steam power - The improved steam engine invented by James Watt was initially mainly used for pumping out mines, but from the 1780s was applied to power machines.

Industrial Revolution

Spinning Mule Watt’s steam engine

James Watt

Industrial RevolutionInnovationsIron founding - In the Iron industry, coke was finally applied to all stages of iron smelting, replacing charcoal. This had been achieved much earlier for lead and copper as well as for producing pig iron in a blast furnace, but the second stage in the production of bar iron depended on the use of potting and stamping.Glass making - A new method of producing glass, known as the cylinder process, was developed in Europe during the early 19th century.

Industrial Revolution

Iron Bridge Glass Making

I N D U S T R I A L P O L I C Y

Protection to Indian IndustriesIndia is probably one of the few countries in the world which used its import policy for the healthy d e v e l o p m e n t o f l o c a l i n d u s t r i e s . Levying higher tariffs restricted imports, and there was also a total or partial physical ban on the imports of products from outside India .During second and third year plans In this plans more emphasis was given to capital goods industries,machines which india wanted to develop for making new machines,devolpment of textile machinery,power equipment etc.

Authority Government bodies like the State Trading Corporation,Mines & Minerals Trading Corporation controls imports of products.

HIGH CUSTOMS TARIFFS Customs tariffs were raised in s o m e c a s e s t o 2 0 0 t o 3 0 0 % o n imported products . This gave protection to local industries.FINANCIAL STRUCTUREDevelopment of banks like Industrial finance corporation of India (IFCI) 1948, Industrial development bank of India(IDBI) 1964,(UTI) 1963, (LIC) 1956.•Regulations under the foreign exchange and regulation act(FERA)•Restricted foreign investment in a company to 40% .This ensured that much of the control in companies with foreign collaboration remained in the hands of Indians. To succeed, Indian businessmen had to learn and apply modern management and production techniques.

•Encouragement to small scale industries supports like credit, marketing, technology, entrepreneurship development, fiscal financial and infrastructural support. •Shares Percentage in Final Energy Consumption

Sector 1953-54 1990-91Industry 39.8 50.4Transport 46.2 24.5Domestic 9.9 13.8

Agriculture 1.7 9.0Others 2.4 2.3

Total 100.0 100.0

•First Industrial policy resolution of 1948The first industrial policy gave emphasis to industry where state had a monopoly (arms and ammunition etc.) there also existed mixed sector industries (coal, iron and steel etc.) Government controlled industries

(automobiles, heavy machinery etc.) and private industries. The industrial policy resolution also stressed the importance of cottage and

small scale industries.

•Industrial Policy Resolution of 1956This resolution changed mixed economy approach by giving more importance to public sector. The resolution brought out the importance of removing regional disparities in our country. A sufficient attention was paid by the resolution for providing facilities to labourers. Industrial Policy 1970

•National industrial policy(1970)1) This policy provided that there should be a class of core industries consisting of basic, critical and strategic industries in economy.(2) All new investment prepositions of over Rs. 5 crore shall be deemed to be in the heavy investment sector.(3) The joint sector concept should be accepted in principle.(4) The existing policy of reservation for the small sector will be continued.(5) The exemption limit from licensing provision will be raised to Rs. 1 lakhs .

•Industrial Policy of 1980The main objectives of 1980 industrial policy were the revival of economy, effective operational management of public sector, promotion of industries in rural areas, removal of regional imbalance, concessions for industries engaged in research and development of optimum utilization of installed capacity.

•Industrial Policy 1999a) Consolidate the strengths built up during the last four decades of economic planning and to build on the gains already made.(b) Correct the weakness that may have crept in the industrial structure as it has developed over the last four decades.(c) Maintain a sustained growth in productivity and gainful employment.(d) To attain international competitiveness government has decided to liberalize industrial licensing policy, foreign investment, foreign technology agreement, public sector policy and MRTP for the sake of realization of objectives of the policy. The new industrial policy has abolished industrial licensing. The new industrial policy has also scrapped the asset limit of MRTP companies.

Industries in IndiaIron & Steel Plants

Jamshedpur (Tesco Plants) JharkhandBurnpur Harapur Kulti (TISCO Plants) West Bengal

Vijay Nagar Plants Karnataka

Bhadravati Karnataka

Salem Tamil Nadu

Vishakhapatnam Plants Andhra Pradesh

Bhilai Steel Plant Chhattisgarh

Raurkela Steel Plant Orissa

Durgapur Plants BengalBokaro Plants (BS), Steel Limited (BSP) Jharkhand

At last these revolutions played a great role in the world history. The future revolution will be 4G and we should be ready to welcome it and be a part of it.

“You cannot buy the Revolution, You cannot make the Revolution, You can only be the Revolution”.

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