British Colonial Rule
The famous Kohinoor diamond has been doing rounds in the news. It
was a prized possession of pre-colonial India which the British took
with them on their way back home. The talks of taking it back have
caused a stir in the recent past. However, it forms a very small fraction
of what our colonizers took away. As a consequence, our country was
in a grim state when they left. This forms the basis that governs our
current policies and future prospects.
The Pre-Colonial State
Before the advent of colonial rule, India was a self-sufficient and
flourishing economy. Evidently, our country was popularly known as
the golden eagle. India had already established itself on the world map
with a decent amount of exports. Although primarily it was an
agrarian economy, many manufacturing activities were budding in the
pre-colonial India.
Indian craftsmanship was widely popular around the world and
garnered huge demands. The economy was well-known for its
handicraft industries in the fields of cotton and silk textiles, metal and
,precious stone works etc. Such developments lured the British to
paralyze our state and use it for their home country’s benefits.
Browse more Topics under Indian Economy On The Eve Of
Independence
● Agricultural Sector
● Industrial Sector
● Foreign Trade
● Demographic Condition
● Occupational Structure
● Infrastructure
India: The British Colony
, ( Source:
Wikipedia)
The British came to India with the motive of colonization. Their plans
involved using India as a feeder colony for their own flourishing
economy back at Britain. This exploitation continued for about two
centuries, till we finally got independence on 15 August 1947.
Consequently, this rendered our country’s economy hollow. Hence, a
study of this relationship between the colonizers and its colony is
important to understand the present developments and future prospects
of India.
, The colonial rule is marked with periods of heavy exploitation. The
British took steps that ensured development and promotion of the
interests of their home country. They were in no way concerned about
the course of Indian economy. Such steps transformed our economy
for the worse- it effectively became a supplier of raw materials and a
consumer of finished goods.
The colonial kings robbed India of education, opportunities etc.
reducing Indians to mere servants. Undoubtedly, they never tried to
estimate colonial India’s national and per capita income. Some
individuals like – Findlay Shirras, Dadabhai Naoroji, William Digby,
V.K.R.V. Rao and R.C. Desai tried to estimate such figures.
Although the results were inconsistent, the estimates of V.K.R.V. Rao
are considered accurate. Notably, India’s growth of aggregate real
output was less than 2% in the first half of the twentieth century
coupled with a half percent growth in per capita output per year. By
and large, India faced a herculean task to recover from the blows that
two centuries of colonial rule landed on its economy.
Solved Example for You
The famous Kohinoor diamond has been doing rounds in the news. It
was a prized possession of pre-colonial India which the British took
with them on their way back home. The talks of taking it back have
caused a stir in the recent past. However, it forms a very small fraction
of what our colonizers took away. As a consequence, our country was
in a grim state when they left. This forms the basis that governs our
current policies and future prospects.
The Pre-Colonial State
Before the advent of colonial rule, India was a self-sufficient and
flourishing economy. Evidently, our country was popularly known as
the golden eagle. India had already established itself on the world map
with a decent amount of exports. Although primarily it was an
agrarian economy, many manufacturing activities were budding in the
pre-colonial India.
Indian craftsmanship was widely popular around the world and
garnered huge demands. The economy was well-known for its
handicraft industries in the fields of cotton and silk textiles, metal and
,precious stone works etc. Such developments lured the British to
paralyze our state and use it for their home country’s benefits.
Browse more Topics under Indian Economy On The Eve Of
Independence
● Agricultural Sector
● Industrial Sector
● Foreign Trade
● Demographic Condition
● Occupational Structure
● Infrastructure
India: The British Colony
, ( Source:
Wikipedia)
The British came to India with the motive of colonization. Their plans
involved using India as a feeder colony for their own flourishing
economy back at Britain. This exploitation continued for about two
centuries, till we finally got independence on 15 August 1947.
Consequently, this rendered our country’s economy hollow. Hence, a
study of this relationship between the colonizers and its colony is
important to understand the present developments and future prospects
of India.
, The colonial rule is marked with periods of heavy exploitation. The
British took steps that ensured development and promotion of the
interests of their home country. They were in no way concerned about
the course of Indian economy. Such steps transformed our economy
for the worse- it effectively became a supplier of raw materials and a
consumer of finished goods.
The colonial kings robbed India of education, opportunities etc.
reducing Indians to mere servants. Undoubtedly, they never tried to
estimate colonial India’s national and per capita income. Some
individuals like – Findlay Shirras, Dadabhai Naoroji, William Digby,
V.K.R.V. Rao and R.C. Desai tried to estimate such figures.
Although the results were inconsistent, the estimates of V.K.R.V. Rao
are considered accurate. Notably, India’s growth of aggregate real
output was less than 2% in the first half of the twentieth century
coupled with a half percent growth in per capita output per year. By
and large, India faced a herculean task to recover from the blows that
two centuries of colonial rule landed on its economy.
Solved Example for You
