During the late 19 th Century, the only major industry that owned by the Indian industrialists was the cotton and textile industry. Indian industrialist invested their capital in the cotton textile industry, which was established in Ahmedabad and Bombay on the Western coast of India.G.N Davar, a Parsi businessman promoted the first cotton mill, The Bombay Spinning and Weaving Company in 1851 . Two other mills were setup in 1854 and 1865 . The first cotton mill was established in Ahmedabad in 1859 . Thus, the cotton textile industry was started by Indian industrialists in the later half of 19 th Century.