what is drain of wealth theory
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The drain of wealth was the portion of India's wealth and economy that was not available to Indians. In 1867, Dadabhai Naoroji put forward the 'drain of wealth' theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India
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It refers to the economic critique of colonial rule in India that was advocated by the early nationalists. They described the constant one way flow of wealth from India to England for which India received no returns as 'Drain of Wealth'.
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