STUDIES IN INDIAN ECONOMICS EDITED BY C. N. VAKIL I1NIVE&SlTY PIlOFKSSOIl OF ECONOMICS, BOMBAY. STUDIES IN INDIAN ECONOMICS A series of "olOmes dealing with the economic history and problem. • of Modern

EDITED BY C. N. VAKIL UNIVERSITY PROFESSOR OF ECONOMICS. BOMBAY

1. FiDaDcial Developments in Modern India. 186b-11IS1. By C. N. Vakil (second edition in preparation). .

2. Currency and Prices in India. By C. N. Vakil and S. K. Muranjaa.

8. Life and Labour in a South Gujarat VilJage. By G. C" l4ukhtJ'ar. t. Population Problem of India. with epeeial reference to food 8U)lplt. By B. T. RanadiYe. \ 5. TautiOD of Jncome in India. By V. K. R. V. Rao.

G. Growth of Trade and Industry in Modern India: An Introduc­ tory Survey. By C. N. Vakil, S. C. Bose and P. V. Deolalkar.

7.- Industrial Policy of India. By C. N. Vaki1' and M. C. l4unsbi (in preparation). GROWTH OF TRADE AND INDUSTRY , IN MODERN INDIA

AN INTRODUCTO&Y SURVEY

BY C. N. VAKIL

S. C. BOSE, M. A. AlfOL()..BmrOALI DlrBBlDIDUrB OOLLBO-. A' J ARABAD BOJOrrIXB PBOrJI98OB OP IICOlfOIlICS AlfD RISrOBY. BIll PAIlAlIIIUBAJDIIlAO' OOLLBG&. l'OOlfA.

AND P. V. DEOLALKAR, M.A., LL.B.

LONGMANS, GREEN AND CO. LTD. 6 OLD COURT HOUSE STREET. CALCUTTA H. NICOL ROAD, BOMBAY 36A. MOUNT ROAD, MADRAS LONDON. NEW YORK AND TORONTO 193 1 PRINTED AT THE BASEL MISSION PRESS MANGALORE S. K. EDITOR'S PREFACE

A. the title of the book indicates and as explained in the In­ troduction, this volume is meant to give a historical and analytical luney of Trade and Industry in Modern India. In Industry we do not include Agriculture, which requires a separate study by itself. The word Trade is used mostly in the sense of Foreign Trade. The survey is not exhaustive; hence it is called in­ troductory. It is planned, however, to cover sufficient ground for understanding the main tendencies in Indian Trade and Industry, on the basis of which the future industrial policy of the country can be worked out-a p~blem which will be dealt w:ith in the next volume in this seriei. In studies of this character, the difficulties of presenting the most recent facts are great. In the first place, the statistical and other Government publications are available at such intervals that the most recent facts cannot be easily embodied in a work like this. Apart from this, the inherent nature of the subject is such that by the time a book like this goes through the press and is in the band. of readers, important changes may take place in this or that branch of trade or industry making certain statements in the text lomewhat out of date. In view of the economic crisis through which the world is passing at the present moment, the uncertainties in the matter of trade and industry are l[I'eater than ever. In leveral cases, political factora add to this tendency. In spite of these difficulties, etrorta have been made to give the latest information on each subject as far as poSSible, and if the reader finds an1 inadequacy in this connection, he wiD, it is expected, keep in mind the considerations pointed out above. It il difficult to give an exact idea of the division of work among the authors. Messn. Bose and Deolalkar worked as re­ learch students under my guidance dllring 1926-28. The former vi PREFACE

wrote a thesis on the Foreign Trade of India, and the latter no Textile Industries in India. The material of both these wo~ks has been freely used by me and partially embodied in the present volume. Additional material had to be collected specially in connection with certain other industries; and the work had to be brought up-to-date in each case. Wherever it has been thought proper to give a historical treatment, we have begun with the year 1860. In writing on a subject of practical importance, academic men suWer from a handicap due to want of adequate contact with all the problems concerned. Proper co-operation between economists and men in business is essential for establishing the truth in many problems of economic life; it must be pointed out that such co­ operation is still in its infancy in our country. It is hoped, how_ ever, that in the New India which is being created the value of such co-operation will be better appreciated. I may be permitted _ to make an appeal to those who know better in this or that branch of the subject to be so goqd as to let me have their suggestions which will be ~rat~fully acknowledged in a future edition of the work. Thanks are due to Mr. D. N. Marshall, M.A. who rendered valuable assistance in preparing the work .for the press.

School of Economics Ilnd Sociology; University of Bombay, c. N. Vakil. lst September 1931. CONTENTS Page EDITOR'S PUVACL v INTRODUCTION. Tbe economics of foreign trade, Industries for tbe bome market or for expOrt. Industries financed by Indian capital or by foreigners. Industries owned by tbe State or by private people. Industries receiving protection or otber form of State assistance and unprotected industries.

Part I: ARTICLES OF FOOD AND DRINK Cbapter I. ,FOOD GRAINS. i5 Rice. India's position in world production and exports. Extent and main directions of Indian rice exports. Food grains. Future prospects. Wbeat. India's position in world exports and pro­ duction. Some recent tendencies and future prospects. Food grains. General remarks. Some economic aspects of exports of food grains. Influence of exports on production. Exports and home supply. Prohibition or restriction of food grain exports as a means to increase tbe food IUPllly.

Chapter II. Tu AND Corn•. 43 Some hiltorical aspects of tbe Indian tea industry. Government'. attitude towards the tea industry. Growth, in Indian tea production and el:port. Foreign com­ petition with Indian tea. Pre-war history. Indian tea exports during aDd after the war. Some future viii CONTENTS prospects in the export markets. The home market. Internal economics of Indian tea industry. The Indian colfee industry.

Chapter III. SUGAR. 59 Indian sugar production. Pre-war exports and imports of sugar from and to India. History of sugar trade and industry in India since the war. Iuternal economics of Indian sugar industry. Future possibilities of the Indian sugar industry. Protection of sugar industry.

Chapter IV. . 77 Early history. Inland customs line. Recent events. The theory of salt duty. Sources of salt supply. Fluctuations in price. Production of salt in India. Quality of Indian salt. Protection of salt industry. Relaxation of salt Jaws.

Part II: TEXTILES ChapterV. CoTTON. 97 Early history. The English cotton industry. The beginning of the import of cotton goods in India. Section I: Trade in raw cotton. Production of raw cotton. Exports of cotton. The consumers of Indian raw cotton. Imports of cotton. Section II: Trade in cotton manufactures. Growth of total imports. Imports of yarn. Imports of piece­ goods. The sources of supply. Exports of cotton manufactures. Exports of yarn. Consumers of Indian yarn. Exports of piece-.goods. The Trade Mission. SectioR III: Indian cotton industry up to 1914. Early history. Indian cotton industry, 1851-1875. CONTENTS ix Progress of the industry during 1878-1900.. The progress of the industry during 1909-1914'. LoCalisation of the industry in Bombay. The disadvantages to the industry in Bombay.. Indian cotton industry outside Bombay. Section IV: Indian cotton industry and trade since 1914. The war period. The post-war boom. The depression during 1928-28. Tendencies during the boom and the depression. Causes of depression. Nature of Japanese competition. General causes alfecting the Indian industry. The position of the industry in 1929. The State and cotton industry. The industry in 1980-81. Handloom weaving industry.

Chapter VI. rUTI. 167 Early history. International trade. History of the jute mill industry in -first period, 1855-1885. Comparison with cotton 'industry. Second period, 1885- 19J4. Comparison with cotton industry. Third period, 1914-1980. Export duty. The growth of the industry. Exporta of nw jute. Suez Canal. Limitations. Elfect. of the war. Value of exports. Distribution of the exports of nw jute. Export of jute mallufactures. Local demand for jute goods., Foreign demand for jute goods. Direction of trade in gunny bags. Exports of jute cloth. Exports of gunnies and cloth compared. Elfect on agriculture. Improvement of the yield. Distribution of jute cultivation. Consumption of raw jute in India. Recent depression in jute industry.

Chapter VII. WOOL. 197 Peculiarities of the woollen industry. History of the woollen industry-(J) carpets (2) shawls, (8) blankets. Raw wool.. Quality of wool. Shepherds. Marketing of CONTENTS wool. Trade in raw wool. Imports. Exports of raw wool. The woollen mill industry. Distribution ofthemills. The output of the mills. Th~ present position of the hand­ loom industry-ell carpets; (2) blankets. Effects of the war. Exports ofwoolleJ].manufactures. Imports of woollen manufactures. Imports of woollen goods. Imports of shawls.

Chapter VIII. SILK. 218 Introduction. History, Raw silk. Exports of raw silk. Imports of raw silk. Manufacture of silk. The position of the industry in the Provinces. Export of silk goods. Import of silk goods. Import duties.

Part III: MINERALS Chapter IX. COAL. 2SJ Sources. Overprodu~tion. Recent history of the trade. The Bombay market: 'Improvement in quality of exports. Cost of raising coal. Railway facilities and freight. Pro­ tection to the coal indllstry. Protection against unfair competition. Some recent facts about the coal industry.

Chapter X. METALS. 247 I. Import trade. Introductory. Metals: (l)tin, (2) copper /_ and brass, (8) zinc, lead and aluminium, (4) iron and steel. Introductory. Growth of the imports of iron and steel. Sources of suppl:r. Metal manufactures-(i) railway plant and rolling stock, (ii) machinery and mill-work. So.urces of supply. (iii) hardware-the sources of supply. (iv) motor cars, waggons and accessories. II. The steel industry. Introductory. Discriminating Protection. Raw Inaterials. Labour. Market. The necessity of protection. Protection as a temporary CONTENTS xi mea8ure. A key industry. General principles under­ lying the 8cheme of protection. Prices of imported steel. Cost of producing steel at Jamshedpur. Proposals of the Tarilf' Board. The allied and dependent industries. Supplementary protection. Furthet supplementary pro­ tection. The statutory enquiry. Additional protection for galvanised sheets. Purchase of rails.

Chapter XI. MINERAL OILS. 295 Section I. The import trade. The growth of imports till J898-940. Non-progressive import trade till J918-19. The great rise in the imports of mineral oils since 1919- 20. The 800rces of supply. The import and excise duties. Section II. The mineral oil industry. fr~ce war. Demand for-protection. Evils of monopoly.

Chapter XII. CEMENT. 511 Imports. Claim for -protection. Proposed measore of protection. The Cement Association.

Part IV: OTHER ARTICLES Chapter XIII. MATCHES. 825 Cause. of recent growth of the industry. The raw material. Foreign competition. Protection. Cottage factorie •• Swedish Match Company.

Chapter XIV. PAPER. lllJ7 Baw material. The Indian market for paper. The claim to protection. xii CONTENTS Chapter XV. OIL-SEEDS. . 34~ I. "The export trade. India's position in the world ~rket. General developments in the total exp,rts of seeds. The chiefseeds exported. Copra. Poppy. Linseed. Importers of linseed. General remarks on the trade in linseed. Rape seed. Importers of Rape seed. Sesamum or,Til seed. Castor seed. Cotton seed. Ground-nuts. The present situation. Summary. II. The Indian oil-mill industry. 'The present state of the industry. 4.n export duty. A bounty on export of oils. Possibilities of oil exports. III. Essential seeds.

Chapter XVI. HIDES AND SKINS. 372 I. The Export Trade. Introductory. General deve­ lopments in' the exports of hides and skins. The four varieties. Raw hides. The consumers of raw hides. Raw skins. Tanned hides and skins. Exports 'of tanned hides. Growth ·of the exports of tanned hides. Consuluerl! of tanned skins. 'The ~port duty. .' II. The tanning industry.

ApPENDIX. 389 Note on Indian Trade 1930-31.

INDEX. 398 APPENDIX

Note on Indian Trade in 1930-31

The annual review of the trade of India for 198()"81 was published after the text of this book had gone through the press. In a study of the tendencies in trade and industry, the facts of anyone year are not of great· importance; besides, in publications of this kind, the careful reader will always have to follow uP his inquiry under this or that head in which he is interested by referring to original sources of information. An attempt has how­ ever been made in this appendix to give in brief a few facts re­ lating to the year 1980-81, particularly.... with reference to the articles of trade discussed in this volume. The year 1980-81 was marked by the Civil Disobedience movement in the country_ For the time being this did introduce a new factor in the life of the people; existing trade and industry were disturbed on the one hand; new channels of trade and in­ dustry were opened out on the other. It is, however, impossible to trace the exact effects of the movement on the economic life of the people 60 soon. Combined with this was the effect of the continued fan in the world price level. This fan has been pa~icularly remarkable since October 1929. The fan has been much greater in raw materials in the export of which India is interested. It has been estimated that compared with September 1929, the fan in the price level of exported articles was 86 per c:ent. by December 1980, and 89 per cent. by March 1981. The corresponding fan in imported articles was 16 and 1. respectively. This means that India had to pay much more than before in exports for her imports. I The following data will reflect these tendencies. For the sake of convenience. the figores have been grouped with reference to the general classification adopted in this volume. The figures of 1929-80 have also been given for the purposes of comparison.

I Cf. Review of the Trade of India, p.li. 890 APPENDIX Table I. Total Imports and Exports in lakhs of rupees.

1929·30 1930-81

Imports of merchandise 2,40,719 I,M,8!1 Exports of merchandise 3,10,SO g,gO,49 Imports of treasure i1,SS 26,86 Exports of treasure ... 5,14 4,00

We notice a fall of 82 per cent. in imports and of '1.7 per cent. in exports. The following tables will indicate the fall in the trade of some of the important commodities, which brought about this remarkable decline.

Table II. Articles of Food and Drink in lakhs of rupees.

Imports I Exports 19~ I 1930-81 I 1929-80 I 1930-81 Rice ...... 31,51 25,91 Wheat ••• ... '" ...... il 1,95 Tea ...... 601 46 26,01 is,56 Sngar ...... 15,78 10,96 ...... Salt ...... I,SO 1,18 ......

It should be pointed out that the decline in the tr~de indicated above is in value. Because of the great fall in prices, the decline does not mean a corresponding fall in quantity. APPENDIX 891' Table Ill. Textiles, in lakhs of rupees. Imports I Exports 1929-80 19SO-81 19119-30 1930-81 . I I I Raw cotton •• , 8,'11 6,39 65,60 '6,13 Cottoa yara aad manll-"'1 fac:turCIII •• , ••• 59,'9 115,26 1,19 S,H Raw jute .. , ...... 111,11 12,88 Maaufactured jute ••• iii 18 51,93 81,89 Raw wool ...... 511 19 ',foil i,SI W CIOllen goods ... 8,11 i,1S 91 711 Raw silk .. , 1,28 SO 9 ... 88\ Silk goods ...... S,SS 11,11 2 1 The most remarkable faU is in the imports of ootton yam and manufactures. The increase in the imports of raw ootton shows the activity of the local mills in the production of goods of higher count. The prodnction of Indian mills increased from 242 crores of yards in 1929-80 to 256 crores of yards in 1980-81. BeSides, the year 1980-31 started with large stocks on hand, and these were reduced by more than 16 crores of yards by the end of the year. Part of the local demand was met by goods produced on the handloom. Table IV. Minerals in lakhs of rupees.

Imports Exports 19i9-S0 I 1930-81 1999-80 1930-81 Ccal 61 118 'I' '9 Iroa and steel aDd ma- aafacturea tbereof... 17,110 10,81 1,6i 1,1' Otber metals' .. ~ 6,88 5,09 '.IS 8,6'1 Macblaer, aad mill- .torea 19,85 15,18 Hardware 5,00 8,60 Motor c:an 8,16 1,5'1 JeerOl8ne 5,89 S,S' Petrol ... sa Cement M ~I 392 APPENDIX This table shows that the first place occupied by the textile group of articles in our imports, was taken by the metal group in 1930- 31. This was due to the relatively greatt;r decline in the for,mer. Table V. Other Articles, inlakbs of rupees. Imports I Exports 1929-30 I 1930-31 I 1929-30 I 1930-31 Matches ...... 11 4 Paper .• " ...... 3,72 2,87 Oilseeds ...... 26,47 17,86 Hides and skins, raw 31 U 7,98· 6,46 Hides and skins. tan- ned and leather ... 68 48 8,16 6,39

The protection afforded to the Match and Paper industries is partly responsible for the fall in imports of these articles. Oil­ seeds and Hides and Skins are our chief articles of export next in importance to Raw Cotton and Jute. l'he low value realised for these products in 1930-31 is visible in the figures. INDEX (The letter 0 after a &gure denotes foot-oote) AdmiDi8tratiye Report of the Bombay Castor Seed. !I01 PreeideDCJ'. ISl0 Cement, 311; eODlumption of. io Agrieultare. department of. 11; 1m- India, 319; ecJ6t ofproduetion, 311; plemeots of. f81; ltatisties of manufaeturing Co's. 313 Brilish India. 199. !06n Cemenllnduslry. protectionlo, 319 Ain-i-Akhari. t190 Chamber of Commerce. Bengal, 191 Akbar. 161, 199, tos Cbaudhari, N. C. "Jute in Bengal," All India Spinners' Aseoeialion, 165 169, 189n Aluminium, Zine and Lead, t59 Civil Disohedienee Movemenl. 77, 93 Amerieao Civil War, 101, 109, 109, Coal, 931; Bombay market for, 235; 1!IO,I7' eommillee of 1995. 910; exports of Argenline, 31; Argentine, Be- !3f; east of raising, !38; Grading' publie, 181 Board, flS; improvements in qua-' Argyle, Duke of, 83 Iity of, 231; industry, f'l; Indus- Auekland, George, 170 tries Researeh Board. 9"; over-pro- Bahar, 161 duetion of,931; raUway faeilities Balkrishna, Commereial relati0D8 and freight of, 938; souree of, ,231 between India and England, 98n, Coehin, 67 fl9n Coffee, esports of, 68; industry, 61. Baring. Major, 8S Continental Sted Carlel. 991 ' Butable "The Commeree of NatioDl" Copper and Bra88, 219 6n Copra, esports to Germany; s.s Beet Sugar, additional duly 00,69 Cotton. 91; area l09n; early history, Bengal Agrieullural Journal oflndia, 91; esports of, 110; esports to- IIl1u; 19"n China, lOS; esports lo Japan, 105; Bernier, 117; traYels of. !!Oin. 1I9n esports to Continent, 106, pro- Blrdwood. "Industrial Arts of duetion in U. S. A •• lOin; raw, India," 1990 esporle of. 101. 103, 10.. 106. 121; Blankele, tos, fl' produetion io India, 169; imports, Boum period. dividends io, 1" 107 , 108; Indian pric:e of. 101 t Boee, S. C., Prof., 193n RD88iao price, III B .... and Copper. h9 Cottoa goods, duty on, 162n; esports Brasil, 68; Bruilian Esperiment. 196 from India, 99; imports to India, Br_Is Conferenee of 1901-09, 6t 98, 99; lotal imports, 110; Handbook Buehanan. Dr, 98n; trayeIs of, toso of Commercial Information, .sn Caleulta Port faeilitis t.a Cot~o Induslry, advantages of "Capital," S66n Japan, 160; 161; 162; Indian. 168~ Carpele, 199. t13; laelory at , tol disadvantages in Bombay, 136; 60 INDEX, distribution'in Bombay, 135; de- Fiscal Commission, 75, 76, 2'1'1; re­ pression, 161; depression during port of, 13n 1923-28, 143; early history of, 125; Food Stuffs, commission on, 26 expansion outside Bombay, 133; Foreign cloth, boycott of 163 Indian, during 1851-1878, 126; sinee Franco-German war of 1870-11, 2(11 1914, 139; 'position in 1912-13, 1400; Fraser, L. "Iron and Steelin India," posi~ion in 191'1-18, 140; position io !11720 19!11O-!II1, 142; position in 1925, 144; Galvanised Sheet, protection to, !1193 position in 1929, 157; position in Gandhi-Irwin Pact, 93 1930-31, 163; post.war boom, 14.1; Gangetika, 97 progress during 1878-1900, H!8; Geerlings, Dr. League of Nations, progress during 1900-19140, 131; 6'n rise in labour wages, 1'1 Ginwala, Sir P., 244 -Cotton Manufactures, 109; exports Gokhale, 82 of, 118, imports of. 110; import Great Lon,don Exhibitioo of 1851, duty 00, 160 !1100 Cotton Mills, finance of, ISS; labourers Grading Board for Coal, !II'O of, 1493 Groundnuts, 359 Cotton Mill Industry, Ahmedabad, Gunny bags, 1~, exports of, 1~, 185 146; Bombay, 145; up-country, 14.6 Handbook of Industries, Munitions -Cotton, Tariff Board, 123, 14.9, IS2n, Boar~, 177. 2150 ISSn Handloom Industry, 213 Cotton seed, 358 Handloom Weaving Industry, 163 Cottoo yarn, imports and exports, 111 Hardy, Mr., 162; Report of 162 4'Currency and Prices in India." 7n, Hardware, 265. 268; imports from 38n.39n Germany, !1167; imports from U. K.; Dawar. C. N., 126 imports from U.S. A., 268; imports Diminishing Returns, law of,S' from Austria-Hungary, 26S;sources Dundee Industry, 169, 111, 172, 176, of supply, !1166 Dutt,' R. C. "Ancient India," 199n Hariss, "The Life of J.' N. Tata," Dotta, K. L. Enquiry into the Rise of 2711 Prices in India, '0; Report 00 Hastings, Warren, 78 Prices, 192n Hides aod Skins, 872; cess 00 885; East India Co., 98, 167 Enquiry Committee, 885; exports Economic Journal, 19Sn of, 878; duty on, 882; raw, 382 Hindustan, Description by W •. Hamil- Egyptian mummies, 97 ton Empress Josephine, 20' Imperial Council of Agriculture, 76; 'Engineering Industry, 285 of Agricultural Research. n Exchange between India and China, Imperial Institute, 8620 130 Inchcape Committee, ~ Factory Act, 189 Indelt Numbers, Mn; of prices of raw Fawcett Enquiry Committee, 161 cotton, 102n 'Finlow, A. S. "Jute cultivation in Indian Cement Manufacturers' India," 191n AsSDciation, 8U INDEX 395 Indian Cenual Cotton Committee, 196 Jute Commission, appointment of, Indian Chamber of Commerce, Cal- 111 cutta, S86 Jute Controller, 11' Indian Coal Committee, i" Jute goods. foreign demand for, 182; IndianCunency, ISO local demand, 181 Indian Match Manufacturers' Associ­ Jute Industry, first period, 110; ation,886 second period, 171; growth of Indian Road Development Com­ during war, 115; depression in, 193; mittee, SOIl International trade in, 168 Indian Tariff Act, 2" Jute Manufactures, esports of, 181, Indian, Textile Journal, 224n; Tea from Calcutta, 182 Cess Committee, ll9; Tea Associ­ Jute and Cotton Industry, a com- ation, '6n; Tea Commission, .s; parison, 171 Journal of Economics, in; Jute Jute Mills Association, 11', 18\1 Committee, 196; Jute Mills Associ­ Jute Mill Industry in Bengal, 110 ation, 190, 192; Review 193n; Soft 'Kakya Bombai' plant. 191 Coke Cess Committee, 2"; Sugar Kautilya's Arthashastra, 91n Committee, 69n, 60n, 69, 13 Kerosene. escise duty on, 300; Industrial, CommiSSion, 383; Est­ imports from Borneo,. 301; from ablishment in India, i23n; Survey, Germany, SOl, from Persia, 301. of Agra District, 201n; of Benares from Russia, 299, from U. K,301, District, 211'n from U. S. A., 299; price war, 304, Inland CUltoms, 19 prices, 298n; surcharge on,escise Iron and Steel. i62; imports of. 253; duty. SOIl; 8urcharge on import from Belgium. i56; from Germany, duty, 8O\l '61; from U. K., i56; from U. S. A., Khaddar. production of, 166 .68 Khan, "East India Trade in the XVII Iron and Steel Industry, Annual Century," 219n Report of Tatas, 21'n Kbaraghoda Government Agency, 89 lahra Yarn Milla Co., Ltd., 110 Khewra Mines, 89; 8alt. 90 Japan. esporter of cotton goods to Kregner, Mr. quoted,3S8n India, lli Labour, cost in Bombay, 151; con- Joseph Grnnsel. 6n ditions in Japan, 161 Jute, 161; cultlvation,19i; effects of Lancashire, alarm. 129 War on, 118; raw, consumption Lead, aluminium and zinc, 25'l1 In India, 192; distribution, 80; Letters from the diaries of the Rajas esporta, 116, 117. 181n; esport to of Satara and the Peshwas, Vol. U. K., 180; to U. S. A. 180; export II, 161n. 'lI03n. ~06n duty on, 176; progresa in pro­ Linseed, production. M9; export to duction of, 189; value of esport, U. K., SS'll 1111; report of cultivation in Ben­ Litman, • 'Essentials of International gal. 169; cloth, esports of. 185, to Trade." 3n U. K., 186n, 186n, 181; to U. S. A., Locomotive Building InduStry, 281 186 Louisiana, 69n 396 INDEX Machinery, imports of. 262; supplies Padshah, B. J., 60n from Germany, 2640; sonrces, snp­ Pant, "Commercial Policy of the plies from U. S. A., 265; supplies Mughals," 91n from U. K., 263 Paper, duty on, 34.3-344n, imports of Mababharata, 199n 34.0; Markets, 339 Mahraja Ranbir Singh, 221 Paper Industry, 331; claim for pro­ , 165 tection, 34.2 ?tlalony, Mr., 16!i!n Pearson Court of Enquiry, 161 Managing Agency System, 1540 Periplus of the Erythean Sea, 199n; Manusmriti, 97n !lOCn Marketing Board, 90. 91 Petrol, demand and production, 309; Marketing Pools, 1940 surcharge on, 3O'i! Marshall, "Industry and Trade,"3n Petroleum, annual output, 291; duty Martin, M., 98n; History, Antiquity, on, 3O'i!; products, 303 Topography and StatistiCs of East­ Piece-goods. competition in, Ho9; ern India 167n; !i!05n export of, I'll, l!i!3; imports, 113, Matches, 325, cottage facteries, 1140; imports duty on, 111; imports, 335; Import duty, 326 from Japan, 116; from U. K., 115; Match Industry, Protection to, 331 from Western countries, 116 McDougall Bros., 330 Pillai, "Economic Conditions in In- Meek, Dr., 162n dia," 1'l1n Metals, 2407; import trade, 24.7 Poppy, exports of, 34.8 Mill Production in India, 160 Porto Rico, 59n Mill strike in BOlI!bay, 161 Prasad, K.J. "Monograph on Car- Mineral Oils, !i!95; imports of 295; pet Making," 199n, 'lOOn duty on, 30\; industry, 303 Prices and Wages in India, 112 Monograph oli carpet weaving, 20'i!n; Rails, purchase of, 2940 on woollen . fabrics, !i!O'i!n.; on silk Railway plants, imports of, 259 fabrics, W5n Rape Seed. 357 Moreland, Mr., 205; "India at the Rawlley, R. C. "Silk Industry and Death of Akbar," 97, 167n. 20'i!n Trade;' 'l19n Motor spirit, Excise duty on, 3O'i! Red , 91 New Egerton W oolIen'Mills of Dhari- Report on the Moral and Material wal, !ll!i! Progress of India, 171; on the All Non-food Crops, area, 401 India Spinners' Association, 166n; "Notes on Wool," 'l08n of the Millowners' Association, Oil Mill Industry, 365 131n, 158n; of the Cotton Tariff Oil Seeds, M5; exports of, M5; ex­ Board, 139n; of the Fiscal Com­ port duty on, 367; report by Im­ mission, 213n; of the Hides and Cess perial Institute, M5n Enquiry Committee. 385n; of the Oil Trust, 310 Indian Coal Committee, 231n; of the Okba Salt, 90 Indian Cotton Tariff Board; of the Otto Weyland and Co., 201 Indian Tea AssOCiation, 56n; of INDEX S91 tbe Silk lodustry aDd Trade, by Sioba. 1. C; "Ec(!oomic Aooals of Mowell Lefroy, HOD. 2t60; oftbe Bengal." 161n Tarilf Board. 00 Cemeot. 8140; on SkiDs and Hides, cess 00. S8S,' el[' Coal. 2S1n; of tbe Trade Mission. port of. 87S 1230. 1114n Spiodles aDd looms. 158 - Review. of Trade. of lodia. SID, Steamer freigbts. 240 lo,so, 1190, li80. 181n. 171. 1740. Steel. cost of productio~. 28!!; 1!99 prices of imported. 281 Ricbard Gregg. "Ecooomics of Steel Industry. !!70; allied iudus­ Kbaddar," 16'0. 165n. 1660 triee. 2SS, Indian labour in, 211; Rowe. 1. W. F. 69n. 19Sn Indian Markets for, 271, need of Rice. consumptioo. 89; el[port of, i6. protection, to 271; raw materials 21. 118; el[port duty 00, SO; 8l