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Describe the impact of Great Depression on Indian economy. 

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The impact of Great Depression on Indian Economy: 

i. India’s exports and imports nearly halved between 1928 and1934. 

ii As agricultural prices fell sharply internationally as a result of this prices plunged in India. 

iii Despite of this, the colonial government refused to reduce revenue demands.

iv. Peasants’ indebtedness increased. They used up their savings, mortgaged lands and sold their jewellery and precious metals.

v. India became exporter of metal

vi. Town dwellers found themselves better off

vii. Industrial investment grew 

viii. Any other relevant point

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