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December 2, 2023 2498 0
The structure of India’s current economy is not a recent creation, it has deep historical roots, particularly during the period when India was under British colonial rule, which endured for nearly two centuries before India ultimately achieved independence on August 15, 1947. The primary objective of British colonial rule in India was to transform the nation into a supplier of raw materials for the rapidly expanding modern industrial base of Great Britain and to reduce economic challenges.
It is crucial to comprehend the exploitative nature of this colonial rule to evaluate the level of development managed by the Indian economy on eve of independence in the past seven and a half decades.
During British colonial rule, India experienced a significant decline in its economic and human development indicators, resulting in the country transitioning from having 25% of global trade to less than 1%. Can you list the policies implemented by the British across various sectors that contributed to India’s economic decline during this period?
Agriculture and Allied Industries: It is a sector of the economy which includes crop and animal production, as well as agricultural engineering and production of agricultural machinery, fertilizers and other kinds of products supporting farming.
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