section_path: Socio-economic effects/India
section_name: India
paragraph_text: India
  
  How much India was affected has been hotly debated. Historians have argued that the Great Depression slowed long-term industrial development. Apart from two sectors—jute and coal—the economy was little affected. However, there were major negative impacts on the jute industry, as world demand fell and prices plunged. Otherwise, conditions were fairly stable. Local markets in agriculture and small-scale industry showed modest gains.