India 's Economic Impact On India Essay

India was the perfect target for Britain, every victory in India damaged France, it provided the raw materials which were becoming incredibly important because of the industrialisation of Britain and it brought much money to Britain. India was on the path to world domination for Britain. And the conquest of India certainly did benefit Britain in many ways, both economic and political.

In 1615 the East India Company acquired its first territory in Bombay, India. The East India Company was a British company that traded for goods, services, and raw materials with India. What initially started as a trading company became a company ruling a country with Brittan’s backing. The company established an army in India comprised mostly of local citizens called Sepoys. With help from the British army and navy, the East India Company fought other European countries also occupying India for control of the region. By 1715 the EIC and Brittan had beaten back the French in the Battle of Plassey. This secured their dominance in India and a

The Industrial Revolution was a revolution in every sense of the word, as it altered almost every aspect of live in the nineteenth century including technology, government, communication, environment and eventually society as a whole.1 Although industrialisation created many positives for modern society, for people in Britain up to the end of the nineteenth century it had many significantly negative consequences. With the long term advances made for society came the then current development of overcrowding cities abundant with pollution, health problems and poor living conditions for the working class. These poor conditions continued into the work place with young children exploited as workers as young as the age of four or five.2 There were consequences of the Industrial Revolution for people outside of the core of Britain. India, being the periphery in the model were exploited for their raw materials which were exported to Britain.

For approximately two hundred years Britain ruled over India, allowing them almost no control of their own country. This is what imperialism was like for many countries. Initially India was colonized for its natural resources by the East India company but the companies hold on India became compromised after the sepoy rebellion in 1857 so the English government took control in a time of crisis. After decades of British Imperialism India finally gained independence in 1947. Brittain helped develop India by creating a government, education, and millions of jobs, however they negatively affected India by using the government and its powerful army to control and suppress the Indians along with Britain's unfair policies which

There was many motives and reasons for countries to attempt to imperialize the Indian subcontinent. During the 16th and 17th centuries, France, Portugal and England all competed for influence along the southeast coast of India. They were interested in the Indian subcontinent because they wanted to trade for goods that could not be found anywhere else such as silk, spices, foreign animals and etc. England ended up dominating the region and was able to take control due to two major reasons. One, the decline of the Mughal Empire allowed England to be more powerful and two, because many Indians were willing to allow Britain to rule. As a result, England created a joint-stock company to pursue trade with the Indian subcontinent called the “British East India Company,” lasting from 1700 to

First, Europe’s relationship with India was of mutual prosperity and trade. Until the East India Company began to create a monopoly for itself in Indian trade, pushing out other European rivals, notably the French, followed it’s by conquest of the country, that phase was from 1600 to 1757 was not an unequal colonial relationship. The East India Company had a large interest in promoting the export of silks and cotton textiles from India which soon began to be noticed on British industrial

Great Britain's interest in India first became present in the 1600s. At this time, the British East India Company had set up trading posts at Bombay, Madras, and Calcutta. India was first set up as a trading post to benefit Great Britain. After the collapse of the Mughal Empire, the East India Company became the leading power in India. This company continued to grow in wealth over time. Eventually, the British government regulate the East India Company's efforts in London and India. The success of the East India Company had gotten the attention of Great Britain.

Throughout the age of discovery and exploration Britain established colonies and took control over India, Britain took control in the 17th century and extended their power over India into the 20th century where it ended[6]. British presence in India lasted centuries and took its toll on India. Although many positive outcomes came from British imperialism in India, the negative outcomes outweighed these. The negative effects had a greater impact on the lives of Indian people of all classes than any of the advantages. The disregard for the wellbeing of India and the exploitation of its people resulted in great tragedies.

The British began to Imperialize more nations during their industrial revolution, this was because they needed more natural resources to fuel their growth. India was the “Jewel in the Crown” for Britain, they referred to India as this because it was their most valuable colony. India got this title because they were not only profitable, but they were a major supplier of the raw materials needed for the industrial revolution. This scenario

This paper will talk about the impact of British colonial conquest on India’s economy while lightly touch on the pre-colonial economic conditions as well. Colonialism refers to a process of control and domination where one country dominates the other. It is the control on the social, economic, and political policies of the colony countries (Emerson, 1969). Many European countries starting colonising other nations in order to gain raw materials, wealth, power and to spread their mission of civilization. The British controlled parts of India first through company rule 1757-1858 and later through the British raj from 1858-1947.

The arrival of the British hastened the decline of the Mogul Empire. The British along with other Europeans began to control Indian territories, trade routes, and internal affairs.The British established the East India Company, a private company empowered by the British Crown to act on its behalf. By 1650, British trading forts had been established at Surat, Fort William and Chennai. Contested by the French, the British fought the french in gaining prominence over the spice trade in India, while consolidating British control in Bengal. The British eventually won over the French and Indian rulers and controlled the majority of trade and territory in India. The British also attained power to collect taxes from lands in the area surrounding Calcutta.

The demand was reducing as the British had started importing goods which were made from machines which were much cheaper as there was no duty for foreign goods, with which the local handloom industry could not compete. The company used to get the best quality cotton from the Indian markets using their own resources which completely reduced the scope for the Indian weavers to make good quality competitive products. This led to a reversal flow where India was now exporting cotton and importing machine made goods instead of exporting traditional handloom. This led to de-industrialisation as the Indian handloom industry had lost both their foreign and domestic markets. The main aim here was to make India into a consumer of British products. Gradually this led to the closure of the Indian handicraft and cottage industries, metal works industries and glass and paper industries upon which a large number of workers had depended on. This led to major unemployment among them and they had to go to rural areas to search for work which increased the pressure of the rural economy and led to resentment among the workers against the British rule. The patronage that these people had received from the local princes was also gone due to the annexation of those

India with about 1.2 million populations and china with about 1.3 billon population are two big demographic and emerging countries in the world .Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬).India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). India’s total GDP (gross Domestic Product) growth was 5.5% in 2012 and inflation rate is was .........(The Economist, 2012) .According to government of India poverty has been decline from 37.2% in 2004 to 29.8% in 2010 (world bank 2011).The major economic growth sectors

person than India. While India’s GDP per person is lower than China, mass manufacturing has created an unbalanced wealth dispersion amongst the Chinese population. Foreign investments in “manpower and labor development, water management, high quality health care facilities and services, communication and civic amenities has helped China create a positive impact on its economy” (Kumar). But this has come at a cost of unequal wealth distribution. The appeal of cheap manufacturing has been one of the most significant differences in the growth of the two country’s economies. Not only has China produced a much larger industrial economy, but the quality of manufacturing and the depth of infrastructure is currently unparalleled.

India gained its independence in 1947 and its economic and political structure has been thriving ever since. Now, India is a democratic country that continues to mature as it improves its market-based system. Its growth can be seen in industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign aid and investment. Like the US, it has divided powers between the executive, legislative, and judicial branches. The current Prime Minister is Narendra Modi, who leads the Bharatiya Janata Party. India’s economy is made up of agriculture, industries, and services and is the second-largest workforce in the world. Growth slowed in 2011 due to high interest-rates and inflation, but has continued to move forward in other ways.