For Indian nationalists the issue of economic exploitation under colonial rule was a central issue. Images of pre-colonial fabled riches of India contrasted with the poverty of British India. The Swadeshi movement strengthened the loyalty to the national economy. Modern ideas made people realise that poverty was preventable. Indian nationalists saw rapid industrialisation of the economy as the path towards both growth and social equity. Development of heavy and machine-making industries, expansion of the public sector and holding of a large cooperative sector were considered very important.

Which of the following social process is always ignored or hidden while discussing the growth of western industrialized capitalism?

Advancement of western education in the former colonies due to Colonialism. Colonialism and the exploitation of labour and resources from Colonies. Advancement in Science and Technology in the former colonies due to Colonialism. None of the above

Colonialism and the exploitation of labour and resources from Colonies.

Capitalism is an economic system in which the means of production are privately owned and organised to accumulate profits within a market system. Capitalism in the west emerged out of a complex process of European exploration of the rest of the world, its plunder of wealth and resources, an unprecedented growth of science and technology, its harnessing to industries and agriculture.