What was the impact of industrial revolution on India?

The Industrial Revolution is a period in history from
approximately 1770 through 1850 which was characterized by a change in the manufacturing
process through the use of machinery and other innovations.  This time period brought
about a distinct working class which worked in the factories of the wealthier class,
often producing goods for relatively low pay in less than suitable conditions.  The
central hub of the Industrial Revolution was Great Britain. However, the Industrial
Revolution had a significant effect on many other countries around the
globe.

Great Britain's East India Company collected revenue
and raw material from the prosperous area of East India and sent the money and materials
to Britain. In addition, after goods were manufactured in Britain, these goods were
brought to India to be sold. Thus, India served to expand Britain's market for the sale
of Britain's manufactured goods.

India, however, did not
benefit from the Industrial Revolution in the way that Great Britain did. In fact, the
economy of the country of India, which was once thriving, was devastated by the
Industrial Revolution. Before the Industrial Revolution, India was the world leader in
textile manufacturing and exporting. Throughout the Industrial Revolution, Great Britain
exploited India until India's economy all but collapsed.