Discuss the varios stages of colonialism in india.what was its impact on indian economy
Answers
Explanation:
British Colonial Rule: Impact # 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.
British Colonial Rule: Impact # 2.
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.
Thereafter, the British Government introduced the land settlement in 1793. Permanent settlement was introduced in Bengal and other neighbouring areas, and then gradually extended to other states. This settlement led to introduction of zamindary system where zamindars were responsible for collecting and remitting the land revenue to the British rulers.
British Colonial Rule: Impact # 3.
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. for British industries.
British Colonial Rule: Impact # 4.
Development of Railway Network:
The development of an elaborate railway network primarily intensified the commercialisation of agriculture and on the other hand brought foreign machine made manufactures to India. This sharpened the competition of machine made goods with Indian handicrafts which resulted into total destruction of Indian handicrafts industry.
British Colonial Rule: Impact # 5.
Occurrence of Famines:Indian economy was facing occurrence of famines too frequently during the British rule. Commercialisation of agriculture reduced the production of food grains by transferring land from the cultivation of food crops to non-food crops like industrial raw materials. The new land system worked as a built-in-depressor as it retarded the process of agricultural development.
Moreover, the destruction of Indian handicrafts increased the pressure of population on land. All these led to frequent occurrence of famines in India causing untold misery and suffering for the Indian cultivators and general people.
British Colonial Rule: Impact # 6.
Transforming Trade Pattern:
Colonial exploitation of the Indian economy by the British transformed the pattern of trade in India to become an exporter of raw materials and foodstuffs and an importer of manufactures. Moreover, colonial exploitation through the entry of British capital and finance capital and also through the payment for the costs of administration led to huge economic drain of India weakening the base of Indian economy.