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The economic policies followed by the British led to the rapid transformation of India’s economy into a colonial economy whose nature and structure were determined by the needs of the British economy. Discuss.

Topic : Modern Indian history from about the middle of the eighteenth century until the present- significant events, personalities, issues. The Freedom Struggle — its various stages and important contributors/contributions from different parts of the country.

1. The economic policies followed by the British led to the rapid transformation of India’s economy into a colonial economy whose nature and structure were determined by the needs of the British economy. Discuss. (250 words)

Reference: Modern Indian history by Bipin Chandra

Why the question:

The question is based on the features of colonial economy in India and its economic policies.

Key Demand of the question:

Describe the features of colonial economy in India and provide for a detailed analysis of the economic policies of the British in India.

Directive:

Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction:

Start by describing the features of colonial economy in India.

Body:

Earlier India was known as sink of gold and silver. It was self-sufficient in agricultural and handicrafts products and had steady market of finished products abroad. However, with the coming of British rule, Indian economy was transformed into colonial economy that suited the interests of British, not the local population. India was transformed into supplier of raw materials, a market of British manufacturers, and a field of investment for foreign capital.

Discuss the exploitation of British through its economic policies in three phases -Mercantile Phase (1757-1813), Free Trade Capitalist exploitation (1813-1858), and Imperialistic phase.

Conclusion:

Conclude with the negative effects of such policies on India and how it entirely lead to the freedom struggle.

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