The correct option is To reduce India to a supplier of raw materials and a market for British finished products..
Explanation
The economic policies pursued by the colonial government in India were fundamentally driven by the economic interests of Britain. The process of "de-industrialization" refers to the systematic destruction of India’s traditional handicraft and manufacturing base to serve the requirements of the British industrial revolution.
Analysis of Options:
- To promote modern Indian industries to compete globally. is Incorrect: The colonial administration did not intend to promote modern Indian industries. Instead, they actively hindered indigenous industrialization to prevent competition with British manufacturers.
- To reduce India to a supplier of raw materials and a market for British finished products. is Correct: The primary motive behind the policy of de-industrialization was two-fold:
- To reduce India to the status of a mere exporter of cheap raw materials (such as cotton, jute, and indigo) required for modern industries in Britain.
- To convert India into a large consumer market for the finished industrial products manufactured in Britain, thereby ensuring a captive market for British goods.
- To generate employment in the Indian handicraft sector. is Incorrect: The policy led to the collapse of the indigenous handicraft sector, resulting in massive unemployment. Displaced artisans were forced to migrate to the agricultural sector, increasing the burden on land, rather than generating new employment.
- To restrict India’s foreign trade to Asian countries only. is Incorrect: While Britain maintained a monopoly over India’s foreign trade, the specific motive of de-industrialization was not to restrict trade to Asian countries. The restriction was primarily focused on directing trade to and from Britain.
Key Takeaway:
The colonial economic policy transformed India into a classic colonial economy: a supplier of raw materials for the ruling nation and a market for its finished industrial goods.