With the advent of Industrial Revolution in the early 1800’s, European markets were inundated with machine-made material with clothing fabric being the most prominent. The inundation was so intense that selling manufactured items was becoming impossible due to market saturation. The British then came up with the idea of choosing India as their new market. But India was already self-sufficient in clothing. As the British introduced machine made clothes in India, prices became a major problem for them as their product were costlier than Indian products due to obvious reasons. This made them to come up with idea of imposing a tax known as “Excise Duty” on goods manufactured in India. This made the price of imported goods to come at par with Indian