Question

briefly narrate the economic comdition of india during the british period?
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Answer 1

Answer:

Before the British rule Indian economy was reasonably developed and self sufficient. Agriculture was the dominant economic activity. India was world famous particularly for the handicraft in cotton, Silk, metals and precious stones. Products like Dacca Muslin, Calico and Kashmir shawl had world wide markets.

British economic policy had two objectives.

1.To use India as a source of raw materials for the British industries.

2.To convert India into a market for goods manufactured in Britain.

The twofold objectives promoted British interests and harmed Indian interest. It destroyed India's flourishing cottage industry. Livelihood of thousands of Indians was adversely affected. It led to stagnation of Indian economy. No improvement in India's GDP. The British never attempted to calculate India's national income or per capital income.