The Britishers damaged the Indian economy. Explain the statement. for 8 std
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Contemporary historian Rajat Kanta Roy argues the economy established by the British in the 18th century was a form of plunder and a catastrophe for the traditional economy of Mughal India, depleting food and money stocks and imposing high taxes that helped cause the famine of 1770, which killed one-third of the people of Bengal.[5]
William Digby estimated that from 1870–1900 £900 million was transferred from India.[6]
In the seventeenth century, India was a relatively urbanised and commercialised nation with a buoyant export trade, devoted largely to cotton textiles, but also including silk, spices, and rice. India was the world's main producer of cotton textiles and had a substantial export trade to Britain, as well as many other European countries, via the East India Company.