The Economic Impact Of The British Raj

In 1858, Britishers started to rule over India by reinforcing the administration power in India. In this study, different factors in Indian economic impacts due to the poor leadership skills showcased by the East India Company will be examined. Different policies evolved by the British government aim to gain tax in India. The way Britishers produce the industrial revolution in India is noticeable and it is also briefly examined in this study. The negative impacts on the Indian economy and the industries that had been established by the British will be discovered in this study.

Economic Impact under the British Raj in India

The political advancement of Europe was superior across the globe and was supreme from the beginning. Under British rule, India’s condition in world finance declined from 24.4% to 4.2% in 1950. The exportation of heavy raw materials, valuable jewels, and mining materials make Britain superior and a loss for India’s finance. The disruption of the traditional economy under British colonialism made India poorer. Britain made the invasion in Indian trade after 1813 and made the demolishment of the policies in the different updated industries. The leading trades of Indian textiles were defeated by the British with the employing monopoly.

Revolution of Indian Industries during British Rule

Indian farmers were forced to develop crops that are profitable for the Britishers only even if it harms the land for agriculture. The cruel behaviour of the British administrators made the Indian push to supply raw materials. The purpose of the trade monopoly was to hurt India, and the policies related to tax and acquisition of land made Britain more profitable. The traditional handcrafted items were the most valuable business materials developed by Indians. Different items that were developed by Indians have beneficial markets across the globe. However, the arrival of the British East India Company forced Indians to develop the handcrafted items to maintain the sustainable development of the items produced by them only. The dominated cotton textile markets in India were demolished by the Britishers and during the 18th century, they started to de-industrialise the Indian trade market for their benefit.

India’s Industrial Raw Material and Food Exports

India was considered a rich market for mining products for iron and steel. One of the major commodities that were exported by the British from India was tea. The commercial production of tea was evaluated during the 1820s in Assam. The East Indian Company started to export cotton and crops like indigo that are employed to produce cloth and was a primary origin of raw fabrics for British textile manufacturers. These types of practices made by the East India Company made India deindustrialisation from 1750 to 1900.

The monopoly of the East India Company in the Indian Trade Sector

The chapter on monopoly in the trade sectors by the East India Company was started due to the competition faced by them in front of the Spanish and French marketers. The trading market reinforced by the Dutch was strong in India. To regulate India, Britishers have found the land of agriculture can make the East India Company richer by growing their favourable crops. The charter Act, 1813 made the commercial trade monopoly made by the Britishers for trading different items like tea, and cotton. Putting limitations on salt production has a significant factor in India.

Reasons behind Britishers Choose India for Trading

The British East India Company arrived in India as a trader in the category of spices with the desire of employing their business throughout India forever. Britishers have primarily experience in trading different items such as silk, tea, cotton, opium, and indigo that are available in rich amounts in India. Different items are enriched with the suspects of constructing business development. Removing the Spanish traders was the identical approach developed by the Britishers in India.

Conclusion

Conclusively, different items that are important as the agricultural entities for the production of different items were exported by Britishers. The authorisation passed by the Mughal Empire against the offering of bribes made to the East India Company during entrance into India for trading in different sectors. The enriched market of India with the availability of different rich raw materials attracted Britishers. With the political power, Britain aims to include a trading monopoly over India to generate more revenue.