Political economy global commodity

Assessment-1

Commodity :- Cotton
Vaibhav vishal
BA SSH

Cotton and its textiles are one of the most widely traded and prized commodities on the world.
Cotton is the most prevalent fabric for daily use and is used in most of our apparel and
furnishings. That’s why cotton has a large history and use value all over the world also in term
of globalization. Although cotton is a kind of basic need for everyone that’s how its also give
huge impact on global economy.

The origin place of cotton is near Indian today we knows that place as eastern Pakistan. Later
cultivated in Mexico. India has a big trade history of cotton perhaps Now India and China is the
largest cotton production countries.

Cotton in India
India became the most important trading centre in the world, particularly for Europeans. India
to Europe. It was going to have a global influence, not just on Indian textiles. Plain-woven
cotton textile called Calico. In India, it was the first joint-stock business to trade. Spices from
India were first traded, and then textiles. India's textile sector is about to undergo a
transformation. And he asked for authorization to launch an Indian trade voyage company. This
new corporation was granted a 15-year monopoly on trading with India by a royal charter.
However, the world will know this company as the East India Company in the future. The
company that would forever transform the lives of millions of people. Similar East India
Companies have been established by the Danish and the French to trade with India.

‘India Became the world’s first listed company.  man, and woman, is  dressed from head to toe
in Indian cloth. Was the most valuable company in the world.’
The British East India Company will be granted a licence to trade and develop factories in
Bengal by the king.   In Bengal, a trading post was established. How might this seemingly
insignificant request affect India as a whole?

The East India Company has its sights set on the seven islands of Bombay in 1639. The British
began marriage negotiations between her and King Charles II of the United Kingdom. The East
India Company gave him a cheque for £50,000. East India Company began to expand swiftly.
Every year, about 15 million yards of Indian cloth are produced. By this time, the East India
Company's most successful business was the Indian textile trade. In 1697, British weavers
accomplished something that had never been done before. They stormed the East India
Company's London headquarters. For the first time, East India Company had to face a direct
backlash in England. In the near future, this attack would have an influence on Indian textiles.

The British East India Company failed. India has surpassed the 65 million yard mark. The
importance of Indian textiles and India itself was becoming increasingly apparent. We've
arrived in the year 1818, and India's first cotton mill is eventually erected near Kolkata. By 1850,
British mills had doubled their annual export to India to 1.3 billion yards. The de-
industrialization of India aided the market for British mills. The survival of Indian weavers was in
jeopardy. Cloth, a far less expensive, machine-made British textile, dominated the Indian
market. The world's largest textile importer. Meanwhile, British mills were in desperate need of
raw cotton. Textiles today have a direct or indirect impact on the population. Around a quarter
of all mill exports from the United Kingdom.

During the independence

India's independence movement was gaining traction as well. Lala Lajpat Rai and Lokmanya
Tilak, among others, campaigned for a boycott of British goods. Clothing created in the United
Kingdom is on fire. By tossing out foreign cloth, which is a symbol of our enslavement.

Thousands of others joined the protest and set fire to their British clothing. This conflagration
created a precedent that the rest of India followed. Indians began to reject British textiles as
the tide began to turn. Indian mills produced about 2.4 billion yards of fabric. Inside, Mahatma
Gandhi was departing India for England as the ship sailed ahead on calm waters. In a visit that
the British cotton mill workers will remember for a long time. In England for the Second Round
Table Conference, which will determine India's future.

The partition of India resulted in one of the largest people migrations in history. Hundreds of
millions of people are preparing for an unknown future. The partition separated India's textile
sector, as it did everything else. On the Indian side, there were 409 textile mills. A visible
component of Mumbai's changing landscape. Mill workers' dissatisfaction. The destiny of
Mumbai's Textile Mills, as well as Mumbai itself, was about to shift dramatically. Workers were
still waiting underneath Datta Samant's house as the sun rose in the morning. Datta Samant will
become India's most influential union leader if he succeeds.

The mill owners, like many others, were not willing to accept the requests. Each day was
challenging for the workers because they had no other source of income. The fourth cricket
world cup began with India's participation. The audience were enthralled by the fact that India
had won the 1983 cricket world cup. This is the era of change in India. The Indian economy has
now been opened up since 1991. Were given permission to launch in India. While the suiting
and shirting industry heated up, campaigns with three Miss Indias were launched. The Pataudi
family was involved in the Gwalior Suitings promotion. Donear, the company's parent, also
pushed to gain market share.

Cotton In US and Slavery

the early 19th century in the u.s. in fact in the year 1808 the US Congress had outlawed the
slave trade internationally that meant that no new slaves could be brought into the country nor
can slaves be exported out of the country this actually followed in 1803 when all the states had
done the same law they'd all passed the same idea in the same bill well what curd to change
the way that slaves were treated or the way that slaves were seen as property was the
invention of the cotton gin by Eli Whitney

Eli Whitney in 1794 the cotton gin provided a machine that could quickly take the seeds out of
cotton prior to this you had to manually remove the seeds and then the way that you had to
process cotton to turn it into a thread and then turn it into cloth itself took a single man some
12 days to produce a standard amount of cotton cloth and so the cotton gin along with
machines like the spinning jenny for example increased the amount of efficiency and made it
much faster.

spinning jenny caused the price of cotton to drop to a mere 1% of its original price by the Year
1860 Britain that great economy in the world alone would import a billion pounds of US cotton
every year especially by the 1860s and over 90 percent of that cotton came from southern
states alone as a result slaves who were seen as necessary to the harvesting and production of
this cotton were suddenly more desirable themselves and the price of a single slave grew from
about $50 per slave in the early 1800s to $1,000 per slave by 1860 as a result mercantilism
began to take over in many places and plantations sprang up that would often produce massive
amounts in cotton would often deplete all the nutrients of the soil in a single area often with
harsh practices and harsh treatment of all of their animals and all of their work is in all their
slaves and then move on to another plot of land to perform the same thing for the next few
years until all of that area had been depleted as well to make matters worse slaves began to be
seen as mere property now they had always been seen as property in a way or another prior to
this but there's something about this incredible opportunity that went along with greed and
created the view of slaves as being almost like animals.

By the time of the Civil War, the United States  was WEALTHY. Especially in South Carolina and
Georgia. Whitney used a smaller version. Market conditions in Europe meant cotton was  more
desirable than ever. This drastically changed the American economic  landscape. Benefited from
the cotton industry. And fostered trade between  Europe and the United States. Major northern
cities like New York City  needed raw cotton for their own industries. One of the main causes  
of the Civil War was cotton .

Southern slaveholders were so financially  attached to the cotton industry,  The US economy, 
still relied on cotton. We’ll get to the Civil War soon. Implications of slavery. Of the economic
explosion they created. This directly impacts generational  wealth in the United States. Decade
after decade after decade, until it’s  no longer a gap in wealth, it’s a gulf.

By the 18th century demand for english cotton was booming easily washable and colourful it
was becoming the fashion fabric of choice for the middle classes and a valuable trading
commodity driving the industrial revolution however the great wealth this brought the nation
was built upon enslaved labour in britain's colonies. the slave produced cotton from america in
the 1780s and 1790s slave produced cotton started exploding onto the scene here so a town
like manchester and its environs becomes a kind of world center of cotton production and that
kind of bursts through and helps to fuel what becomes the industrial revolution

Importance of the cotton industry the british economy, at 1780 it's two or three percent of the
exports from britain are finished cotton goods by the 1820s 1830s it's gone up to 22 23 so it's
exceptionally important for the british economy in that it's a fifth of the economy also a seventh
of the population the working population are working in cotton based industries right in the
mid mid 19th century britain as have been having such involvement in slavery because with
america, In the old plantations and there's more of a sort of physical legacy but here that
there's such an economic legacy of slavery the late 18th century is that moment when britain is
the most active slaving power liverpool is going into a frenzy of slave trading and it's the largest
slave port in the world the a slaves were chained in the hold of ship usually three or four
hundred people in a very enclosed space.