Growth of Modern Industries
The length of railways increased from 2,573 km in 1861 to 55,773 km in 1914. Opening of the Suez Canal also shortened the distance between Europe and India by about 4,830 km. This reduced distance facilitated further industrialisation of India. As a result of Swadeshi Movement, the cotton mills increased from 194 to 273 and jute mills from 36 to 64. The British had consolidated the power in India and thereby attracted large number of foreign entrepreneurs and capital particularly from England. Foreign capitalists were attracted to Indian industry as it held the prospect of high profit. Labour was extremely cheap. Raw materials were cheaply available. India and its neighbours provided a ready market.