The policy of establishing a state outside the country for the fulfilment of economic objectives in another country is called colonialism. In colonialism economic control was often established over a technologically weak country.
Industrialization first started with the cotton textile industry in Britain. After that gradually other industrialization took place. The invention of different types of machines and the establishment of factories resulted in large scale production started to get the maximum use of the cost of the machines. For this a large quantity of raw corn was required. At the same time, a large market was also needed for the consumption of the mass produced product.
Both these needs are fulfilled by establishing colonies. Technologically weak countries do not find much use of their natural resources or raw materials. As a result, raw material can be easily obtained from these, in essence due to lack of machination of such countries, there is a lack of cheap products, so a good market can be found here for cheap products made by machines. On the basis of this understanding, the policy of establishing colonies got a boost. As industrialization took place in Britain and then other European countries, they started establishing colonies of the country. Thus, the industrialization race took the form of imperialism.