Question

Discuss the developmental impact of colonialism on indian political economy

Answer 1

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Answer 2

Colonialism in India, as a historical phenomenon, was as modern as industrial capitalism in Britain. Further, colonial Indian economy had been integrated with world capitalism. The historical process that led to colonial integration of India with world capitalist economy inevitably led to the underdevelopment of India, or “the development of underdevelopment.” Above all, Indian economy and her social developments were completely tied to the British economy and social development.
According to the wishes and whims of the British State situated in London the Indian economy was managed. The Government was not well fitted to the task of bringing about a favourable change. As soon as industrial revolution in England got momentum, Great Britain was transformed into a leading nation of the world. On the other hand, India was transformed in a skilful way into a leading backward colonial country of the world.

Of course, these two processes are not independent of each other—at least in terms of cause and effect. In this connection, it is to be pointed out here that the colonial integration with the world capitalist economy occurred during the 19th century on the plea of modernisation, economic development, and trans­plantation of capitalism in India.