Swati Ranjan Choudhary(1) and Amit Soni(2)
1. Associate Professor, History, Vivekananda College, University of Delhi
2. Professor, Economics, Shaheed Bhagat Singh Evening College, University of Delhi
Abstract:
Before the arrival of the British, India had a strong and robust system of economy. At that time, there was a balance among various sectors of industries. If the country's economy had continued to function normally, large-scale modern industries would have been established in India over time. However, the arrival of the British and their establishment of rule in India severely damaged the country's economy. British colonial economic policies caused a systematic suppression of India's vibrant industrial, commercial, and trade establishments. Instead of progressing, the economy started moving in the opposite direction due to the exploitative policies of the British. This caused the Indian economy to regress rapidly to become an underdeveloped economy. Consequently, there was rapid rise in poverty, and unemployment, and the once prosperous and strong India now found itself in a destitute state. In the above context, this paper discusses Indian economic philosophy, and the developed economy before the British rule, and then systematic deterioration of the economy due to the British policies.
Full Text:
British Economic Policies and India's Suppressed Industries
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