Industry in Karnataka & foreign tie ups
Silk industry in Karnataka owes its origin to
Tipu, as also state monopoly in trade in such commodities as gold, tobacco, sandalwood,
precious metals, elephants, pepper and timber.
He established a Co-operative Bank in which more dividends
were given to depositors of small amounts. His administration of justice was linked to
environment, where convicts were made to plant trees and rear them. For petty offences
such plants were suggested which would grow fast, and for grave offences, those that would
take long, like jamum, mango & coconut. Efforts were made to establish
pearl-fisheries in Malabar by inviting divers from Muscat.
Chinese were invited to help in the production of fine-quality
sugar. A French engineer was asked to design an engine run by water for
boring cannons. Thus, he was far ahead of his times in many respects. He organized a Board
of Admiralty which controlled a navy of 22 lines of battle ships and 20 large frigates
with 72 and 62 guns respectively, besides a fleet of merchant ships.