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Answer Outline 

1. Introduction

Brief Context: The period between 1858 and 1905 not only saw the rise of nationalist sentiment but also the growth of indigenous capitalism, each influencing the other.

Thesis Statement: This answer will critically examine the relationship between indigenous capitalist development and the early Indian National Movement, assessing how economic interests played a role in shaping the movement's ideologies and agendas.

2. Main Body

A. Indigenous Capitalism

Topic Sentence: The late 19th century marked the emergence of indigenous capitalist class including industrialists, bankers, and merchants.

Supporting Facts/Examples: Tata Iron and Steel Company established in 1907, the Swadeshi Movement focusing on indigenous goods.

Analysis: The growth of indigenous capitalism offered economic avenues that encouraged self-reliance, bolstering nationalist sentiment.

B. Economic Interests in Early Nationalist Organizations

Topic Sentence: Organizations like the Indian National Congress (INC) included demands related to economic reforms in their petitions.

Supporting Facts/Examples: INC's early focus on tariff reforms, Dadabhai Naoroji's 'Drain Theory'.

Analysis: Economic agendas were often at the forefront of nationalist demands, underscoring their interconnectedness.

C. Ideological Underpinnings

Topic Sentence: Indigenous capitalism shaped the ideological leanings of early nationalist leaders.

Supporting Facts/Examples: National leaders like Gopal Krishna Gokhale advocated for free trade policies that would benefit indigenous industries.

Analysis: The need for economic reform and growth became ideological components of the National Movement.

4. Counter-Arguments

Counter-Argument 1: Some argue that early nationalist movements were too elite-centric, focusing on capitalist interests while ignoring the masses.

Rebuttal: Although primarily driven by the elite, the early focus on capitalist interests provided a financial backbone for mass movements that followed.

5. Conclusion

Summary: The development of indigenous capitalism and the early Indian National Movement were deeply interconnected, with economic interests shaping the ideologies and agendas of early nationalist organizations.

Closing Statement: The symbiotic relationship between economic and political goals in this era laid the foundation for the more encompassing nationalist struggles that would follow.