Impact of Great Depression on Indian Stock Market, 1929

The Great Depression was the deepest and longest economic downturn of the 20th century that affected most of the major economies of the world. India, being a colonial export-oriented economy, was also adversely impacted by the Great Depression, primarily due to a crash in commodity prices in domestic and international markets. Further, stocks plummeted on major Indian exchanges, taking cues from global turmoil. However, by 1932, normalcy was restored in international trade and manufacturing activity and there was a sizable recovery in India as well. The article delves into the events leading to the Wall Street crash of 1929, the subsequent global economic depression, and the impact of these events on the Indian economy.