From the middle of19th century, India began to develop national industries (mainly textiles). In the 1970s and 1980s, the first industrial bourgeoisie was formed in Mumbai and Ahmedabad in West India. In the late 1930s, India formed the first national capital monopoly group.

India's commercial capital shifted from/kloc-0 to national industries in the late 9th century. British industrial products occupied the Indian market, and British financial capital dominated India's major industrial sectors and financial system. In addition, Britain also controlled India's traffic, transportation, foreign trade and taxation. Therefore, when the Indian bourgeoisie developed its own national industry, the economic contradiction with Britain was very sharp, but India's national industry was greatly developed.

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