"The East India Company had a profound impact on the Indian textile industry. Initially, they encouraged the production of Indian textiles, which were in high demand in Europe. However, as the Company gained more control, they started flooding the Indian market with cheap British textiles. This led to a decline in the Indian textile industry as local weavers couldnt compete with the industrialized British production. Many weavers faced unemployment and poverty, causing significant distress in the textile-centric regions of India."
How did the East India Company impact the Indian textile industry during its rule?