Define coloniasm and its effect on political economy of india
Answers
British imperialism was more pragmatic than that of other colonial powers. Its motivation was
economic, not evangelical. There was none of the dedicated Christian fanaticism which the
Portuguese and Spanish demonstrated in Latin America and less enthusiasm for cultural diffusion
than the French (or the Americans) showed in their colonies. For this reason they westernized India
only to a limited degree.
British interests were of several kinds. At first the main purpose was to achieve a
monopolistic trading position. Later it was felt that a regime of free trade would make India a major
market for British goods and a source of raw materials, but British capitalists who invested in India,
or who sold banking or shipping service there, continued effectively to enjoy monopolistic
privileges. India also provided interesting and lucrative employment for a sizeable portion of the
British upper middle class, and the remittances they sent home made an appreciable contribution to
Britain's balance of payments and capacity to save. Finally, control of India was a key element in
the world power structure, in terms of geography, logistics and military manpower.