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How did export surplus during british rule lead to the economic drain of Indian wealth?
During entire British colonial period,the value & volume of India's gross exports of primary goods (food grains, cotton, raw silk,wool,jute,sugar,indigo ,etc.) exceeded the gross imports of finished consumer goods like cotton silk & woolen clothes and capital goods like light machinery manufactured in British factories.This led to generation of huge export surplus. But this surplus came as a huge cost to Indian economy.Several essential commodities(food,clothes,kerosine) were scarcely available in domestic market.This also did not result in any flow of gold or silver into India(unlike pre -British rule) .Rather,this was used to make payments to the cost of British colonial establishment(Army,navy,bureaucracy,etc) in India,war expenses & expenses on imports of invisible items.This all led to irreversible drain of Indian wealth by the British raj.
What do you understand by 'commercialization of agriculture' under colonial rule?
When British came to India , just they broke the agriculture economic police and started to put their policy in the India. Well, they begun to rule India, all the landlord and lands at the same time begun to give the revenue. Finally what happens here agriculture supported to Industry and Industry supported to agriculture, e.g it's life hand to hand to goes. In this time people had to go through lot's up struggles and hard time. This is the short answer........! Thanks guys.......! Prasanta Orissa OM India
At present India is following which exchange rate?
India followed a 'fixed exchange rate' system till the economic crisis of 1991.At present India is following 'floating exchange rate'following link will help you to understand:(http://indianblogger.com/foreign-exchange-rate-determination-in-india/)thank you
Did India have a traditional economy?
Yes, India historically had a traditional economy characterized by subsistence farming, local crafts, and barter trade. Communities primarily relied on agriculture, with a focus on self-sufficiency and local resources. The economy was largely decentralized, with regional variations in practices and products reflecting local needs and customs. Over time, this traditional structure evolved, especially during and after colonial rule, leading to more market-oriented practices.
How did England strengthen its trade empire?
England was one of the most important countries during colonial times. The country strengthened its trade empire by expanding its colonization and discovering new ways to reach India.
What wealth did India lose during british rule?
India lost everything. mwhahaha
Which country did Britain refer to as the jewel in the crown?
Britain referred to India as the "jewel in the crown" of its empire. This phrase highlighted India's immense value to British colonial interests, primarily due to its vast resources, agricultural products, and economic potential. The term underscored India's significance in contributing to Britain's wealth and global power during the colonial era.
Is India gate a monument?
Yes, India gate is colonial. India Gate was built in commemoration of the Indian soldiers that died in WWI and the Anglo-Afghan war. It was built during British Colonial dominion of India.
Who is the writer of the drain of wealth?
"The Drain of Wealth" was a term often associated with Dadabhai Naoroji, an Indian political leader and educator who was one of the founding members of the Indian National Congress. Naoroji wrote extensively about the economic exploitation of India by the British colonial government and how wealth was being drained from India to Britain.
What were the transformations in colonial India?
it is India which is formwed by India.
What are the culture architecture and the life of Europeans and Indians of the city during the colonial period of Britishers in India?
i think nt7gbk r5srb
Did France governed and controlled India during the colonial period?
Partially. The French had land claims in India from 1759-1954. Although India is not generally grouped with the French Empire, but rather the British Empire.
Who was India's colonial parent?
Germany colonised Rwanda in 1884 as part of German East Africa, followed by Belgium, which invaded in 1916 during World War I
What country was The Jungle Book set in?
Most of the stories in the Jungle Book take place in British colonial India during the latter half of the nineteenth century.
What are the 3 goals of the spanish during the exploration age?
Find India Open trade routes Increase wealth of the Spanish Empire
How the culture of Southeast Asia is influenced by the countries that surround the area such as India and China as well as the colonial influence of the French?
The kingdom in southeast Asia before the colonial time mostly influence by India. The kingdom and the King name is like India. The religion of people in Southeast Asia until today got influence from India and China. Even Muslim in Southeast Asia is not coming from Middle East, but from India Christian is spread to Southeast Asia during colonial time.
Who proposed drain theory?
The "Drain Theory" was proposed by Dadabhai Naoroji, an Indian political leader and social reformer, in the 19th century. He argued that wealth was drained from India to Britain through colonial economic policies, leading to economic exploitation and underdevelopment in India.
