TOPIC-ONE

• Beginning of Business.
•Industrialisation.
•Globalisation.

Done By:
BLACK ACES
BEGINNING OF BUSINESS
DEFINITION OF BUSINESS
•That which busies one, or that which
engages the time, attention, or labor of any
one, as his principal concern or interest,
whether for a longer or shorter time; constant
employment; regular occupation; as, the
business of life; business before pleasure.

• Financial dealings; buying and selling; traffic

in general; mercantile transactions.
BARTER
SYSTEM
•System in which goods are exchanged for
goods.

•One-to-one bartering is practiced between

individuals, organized barter exchanges
conduct third party bartering.
DEFECTS OF BARTER SYSTEM:

•Double Coincidence of Wants

•Absence of Standard Value.
•Indivisibility of Commodities.
•Absence of Store of Value.
INDIAN BUSINESS HISTORY
INDUS VALLEY CIVILISATION
•First known permanent and predominant
urban settlement.
•Citizens practiced agriculture,
domesticated animals, made sharp tools and
weapons from copper, bronze and tin and
ANCIENT
traded AND
with other MEDEIVAL
cities.

PERIOD
•Agriculture was the predominant
occupation
•Raw materials for hand based industries
 COINAGE
•The first metallic coins were minted around
6th century BC by the Mahajanapadas of
the Gangetic plains.

Exports
•The muslin of Dacca, 
•Calicos of Bengal, 
•Shawls of Kashmir,
•Steel and iron works,
•Silk, and other textiles and handicrafts,
•Agricultural products
like pepper, cinnamon, opium and indigo 
 Maurya Empire(321-185B.C)
•First time most of India was unified under
one ruler.

•The trade routes throughout India became

more secure thereby reducing the risk
associated with the transportation of goods.

•The empire spent considerable resources

building roads and maintaining them
throughout India.

•During this time, the Arthasastra ("science

•Similar kind of scenario existed during the
reign of the Mughals
•The business and the economy prospered .
•India became the richest economy when
compared to China and other European
Countries.
BRITISH RULE

•The British colonial rule created an

institutional environment.
•It brought in the effects of the Industrial
Revolution.
 What is Globalization?

Process by which the people of the world are

unified into a single society and function
together.
 How To Measure
Globalization?
• Goods and
Services

•
Labor/People

•
Capit
al
•
Technolo
Effects of Globalization

• Industrial •
• Financial Competitio
• Ecological
n
• Economic • Cultural
• Political • Social
•Informatio • Technical
nal
• Language •Legal/Ethi
cal
Negative Effects of
Globalization
• Inequality

• Environmental
Degradation

• Lowering Quality of Life

Impact on India
 Industrialization
• Industrialization is a historical phase and
experience.
• Industrialization is the overall change in
circumstances accompanying a society's
movement population and resources from farm
production to manufacturing production and
associated services.
 Industrial revolution in
Europe
• Started in the late 18 and early 19 century
• British Agricultural Revolution helped drive
industrial revolution
• Division of labor

• Requirement of machinery increased its demand

• Increase in
investments
Industrial Revolution in India

•The British introduced Industrialisation

in India.
•Industrialization began after its
Independence.
•An entirely new class of entrepreneurs
have come up.
•Large number of new industrial centers
have developed.
•The Government has built the
infrastructure and made massive
investments to
 Role of Industrialization in
India’s Economic Development
• Raising Income
• Generation of Productive employment
• Strengthening the economy
• Achievement of Self reliance

• Improvement of Foreign Trade

• Broadening social outlook

 INDUSTRIAL GROWTH IN
INDIA
• India is one of the pioneers of

Industrialization the in the Third World

•It can be divided into five distinct sub
periods:
o From the 1950 to 1965 and 66 -

Fast rate of Industrial growth

o Second one lasted till the end of seventies
- Two structural retrogression of the Indian
economy
o Third witnessed by the late 70’s and

80’s - Revival of Industrial Growth

oFourth phase was between 1991 to
1994 - Marked by stagnation.

o Current period from 1994.