Introduction The history of industrialization in India is a complex story. When Europe in the nineteenth century was going through a phenomenal experience of industrial development India under British rule, losing much of its handicraft industries, was trying to replicate the European industrial production system. The period from 1850 to the outbreak of the First World War in 1914 witnessed the beginning of modern industrial development in India. By modern industry here we mean only an advanced production system considering the technology, organization, and government-regulation involved with it. The number of people and the amount of resource and energy that the modern industrial production system involves is greater than the previous production systems. Thus modern industrial system has reshuffled the social order, manipulated political order, and transformed the physical environment. In India industrial development began in a colonial situation. It was the colonialism for which India’s resources (minerals, crops, forest products etc.) were being siphoned off into the industrial societies, while it was the same colonial connection with Britain, one of the most industrialized nations, which introduced railways and made possible the transplantation of factory system in India.