IDP project

Aripra,Kinjal,Medhini,Mridulika,Aadya,Deekshitha &
Abirami
 SUBJECTS COVERED

HISTORY
THE GREAT DEPRESSION
50%
GEOGRAPHY
50%
INDIA & THE GREAT DEPRESSION
 The Great Depression
● The Great Depression was a severe global economic downturn that affected many countries worldwide. It became evident
after a sharp decline in stock prices in the United States leading to a period of economic depression.

● Economists and historians often cite the Great Depression as the largest if not the most catastrophic economic event of the
20th century, lasting from 1929 until the beginning of World War in 1939.

CAUSES:
○ The slowing consumer demand
○ Decreased industrial
○ Reckless expansion of the U.S stock market

When the stock crashed in October 1929, it triggered a crisis in the international economy.
 01
The economic contagion began in
September 1929 and led to the Wall
Street stock market crash
05
24th October was given the
name Black Thursday since it
was the first day of the stock
market crashes
02
Fearing a fall in prices, people
made frantic efforts to sell their
shares
04
This crisis marked the start of
a prolonged period of
03
economic hardship On one single day,24 October,
characterized by high 13 million shares were sold.
employment rates and
widespread business failures.
 Effect on other countries
Substantially across countries the timings and severity of the Great Depression
varied
U.S Germany Japan

Japan also experienced a

It was particularly long It was milder in Japan and mild depression, which
and severe in the United much of Latin America began relatively late and
States. ended relatively early.
The decline in German The economy slipped into a
The decline in German industrial production was downturn early in 1928 and
industrial production was roughly equal to that in the then stabilized before turning
roughly equal. down again in the third quarter
United States. of 1929.
 GREAT LATIN
BRITAIN AMERICA ARGENTINA BRAZIL

It struggled with low Many countries in Latin While some less-developed While some less-developed
America fell into countries experienced countries experienced
growth and recession
depression in late 1928 severe depressions like severe depressions like
during most of the and early 1929, slightly Argentina, experienced Brazil experienced
second half of the before the U.S. decline in comparatively mild comparatively mild
1920s. output. downturns. downturns.

CONCLUSION
The Great Depression was a severe global economic crisis triggered by the
1929 stock market crash in the United States. It led to widespread
unemployment, business failures, and economic hardship. While its impact
varied across countries, economists consider it a significant event of the
20th century, lasting until the start of World War II in 1939.
 India and The Great Depression
INTRODUCTION
The Great Depression was a period of economic
depression that started in the United States in 1929 and
spread to other countries around the world. This was the
worst economic downturn in the history of the
industrialized world. On the other hand, India was not
immune to the vast effects of the Great Depression. The
depression had a severe impact on the Indian economy.

THE BRITISH COLONIAL RULE'S IMPACT ON INDIA DURING THE GREAT DEPRESSION
India was a British colony at the time of the Great Depression. The British government imposed several
policies that exacerbated the effects of the depression in India. For example, the British government raised
tariffs on imported goods, which made it more difficult for Indian businesses to compete. The British
government also imposed a gold standard on India, which meant that the Indian rupee was pegged to the value
of gold. This made it difficult for the Indian government to devalue its currency and stimulate the economy.
THE GREAT DEPRESSION AND INDIAN
ECONOMY

The Great Depression The depression also led to a

had several negative rise in unemployment and
consequences for the social unrest. The Great
Indian economy. Exports Depression had a lasting
and imports fell sharply, impact on the Indian economy.
It led to a decline in the
and the prices of
importance of agriculture and
agricultural goods an increase in the importance
plummeted. This led to a of industry. The depression
decline in incomes and also led to a greater degree of
an increase in poverty. government intervention in the
economy.
 Peasants and farmers The depression proved
suffered more than urban less grim for urban India.
dwellers, as the colonial Because of falling prices,
government refused to those with fixed incomes
reduce revenue demands. like town-dwelling
Peasants producing for the landowners who received

05
world market were the
rents and middle-class
worst hit, with prices
salaried employees now
plummeting over 60%.
found themselves better
02 off.

03
Colonial India had
become an exporter of The depression led
As international
agricultural goods and to increased
prices crashed,
an importer of indebtedness and
manufactured products poverty across India, prices in India
in the nineteenth leading to the civil also plummeted,

01 04
century. The depression with wheat prices
disobedience
affected Indian trade,
movement by falling by 50%
with exports and imports
nearly halving between Mahatma Gandhi in between 1928
1928 and 1934. 1931. and 1934.
GLOBAL ECONOMIC RECOVERY DUE TO INDIA - JOHN
MAYNARD KEYNES
01 In these depression years, India became an exporter of precious metals, especially
Gold, during the years of the Great Depression.
02 As per John Maynard Keynes, a world famous economist, global economic
recovery after the Great Depression was promoted by Indian Gold exports.

These Gold exports helped the British, but it hardly had any positive 03
effect on the Peasants suffering in India.

In 1931, Mahatma Gandhi launched the civil disobedience movement, it was

04
the time when rural India was seething with unrest.
 Conclusion
In conclusion, the Great Depression had a devastating impact
on the Indian economy. The global economic crisis led to a
sharp decline in demand for Indian exports, such as
agricultural products and raw materials. This, in turn, led to a
fall in prices for these goods, which hurt Indian farmers and
producers. The depression also led to a decline in foreign
investment in India, which further weakened the economy. The
Indian government’s response to the Great Depression was
inadequate. The colonial government refused to reduce
revenue demands on farmers, which exacerbated the crisis.
The idea that India helped in restoring economic stability is
also interesting, but it is important to note that this did not help
the suffering Indians.
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