i. Indian merchants and industrialists were keen on expanding their business, and reacted against colonial policies that restricted business activities.
ii. They wanted protection against imports of foreign goods, and a rupee-sterling foreign exchange ratio that would discourage imports.
iii. To organise business interests, they formed the Indian Industrial and Commercial Congress in 1920 and the Federation of the Indian Chamber of Commerce and Industries (FICCI) in 1927.
iv. Led by prominent industrialists like Purshottamdas Thakurdas and G. D. Birla, the industrialists attacked colonial control over the Indian economy, and supported the Civil Disobedience Movement
v. They gave financial assistance and refused to buy or sell imported goods.
vi. Most businessmen wanted to flourish trade without constraints.
