Question

Discuss the British colonial intervention in India economy in the early 20
Century

Answer 1

Destruction of Indian Handicrafts:

The Industrial Revolution in England created a serious impact on Indian economy as it reversed the character and composition of India’s foreign trade. This led to destruction of Indian handicrafts although there was no substantial growth of modern factory industry.

New Land System:

New land system of the British ruler also created a serious impact on the Indian economy. During the East India Company rule, the company administrators imposed land revenue at exorbitant rates and thereby realised larger returns from land.

Commercialisation of Agriculture:

Commercialisation of Indian agriculture during the British period created a serious impact on the Indian economy. Commercialisation of agriculture indicates production of various crops not for home consumption but for sale. Industrial revolution in Britain had raised the demand for agro-raw-materials, especially raw cotton, jute, sugarcane, groundnuts etc.