3. Briefly explain the theory of drain of wealth. British rule attect the Iron Smelting
industry in India?
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Explanation:
The constant flow of wealth from India to England for which India did not get an adequate economic, commercial or material return has been described as drain of wealth from India. Dadabhai Naoroji gave 'drain of wealth theory' in his book 'Poverty and Un-British RulERS
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