describe any four economic impact of british rule on various indian industries and trade in india
Answers
Explanation:
(1)Disruption of the Traditional Economy:
The economic policies followed by the British led to the rapid transformation of India’s economy into a colonial economy whose nature and structure were determined by the needs of the British economy. In this respect the British conquest of India differed from all previous foreign conquests.
(2)Ruin of Artisans and craftsmen
There was a sudden and quick collapse of the urban handicrafts industry which had for centuries made India’s name a byword in the markets of the entire civilized world. This collapse was caused largely by competition with the cheaper imported machine made goods from Britain.
(3)Impoverishment of the Peasantry:
The peasant was also progressively impoverished under British rule. Although he was now free from internal wars, his material condition deteriorated and he steadily sank into poverty.
In the very beginning of British rule in Bengal, the policy of Clive and Warren Hastings of extracting the largest possible land revenue had led to such devastation that even Cornwallis complained that one-third of Bengal had been transformed into “a jungle inhabited only by wild beasts”.
(4)Poverty and Famines:
A major characteristic of British rule in India, and the net result of British economic policies, was the prevalence of extreme poverty among its people. While historians disagree on the question whether India was getting poorer or not under British rule, there is no disagreement on the fact that throughout the period of British rule most Indians always lived on the verge of starvation.
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