Explain 'the rise of middle class businessmen'.

The Rise of the Middle Class Businessmen in Colonial India:

The transformation of India under British colonial economy in the 19th and early 20th centuries catalyzed the emergence of a modern indigenous commercial bourgeoisie:

• 1. Origins as Compradors & Agents: Indigenous merchant communities (Parsis, Marwaris, Gujaratis, Chettiars) initially accumulated mercantile capital as middlemen, brokers (banians), and raw material suppliers to British managing agency houses.
• 2. Rise of Modern Indigenous Industry:
  • Cotton Textiles: Cowasjee Nanabhoy Davar established Bombay's first cotton textile mill (1854), followed by Ahmedabad's mills.
  • Steel & Heavy Industry: J.N. Tata established TISCO (Jamshedpur, 1907), breaking foreign industrial monopoly.
• 3. Swadeshi Movement & Economic Nationalism: The 1905 Swadeshi movement and World War I supply shortages spurred domestic consumer goods production.
• 4. Institutional Solidarity: Formed national industry bodies like FICCI (1927) under G.D. Birla and Purshottamdas Thakurdas, financially backing Mahatma Gandhi and the Indian National Congress.