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Moosvi estimates that Mughal India also had a per-capita income 1.24% higher in the late 16th century than British India had in the early 20th century, and the secondary sector contributed a higher percentage to the economy of the Mughal Empire (18.2%) than it did to the economy of early 20th-century British India (11.2%). [19]
[10] Revolutionary violence had already been a concern in British India; consequently in 1915, to strengthen its powers during what it saw was a time of increased vulnerability, the Government of India passed the Defence of India Act, which allowed it to intern politically dangerous dissidents without due process and added to the power it ...
The East India Company officers lived lavish lives, the company finances were in shambles, and the company's effectiveness in India was examined by the British crown after 1858. As a result, the East India Company lost its powers of government and British India formally came under direct Crown control, with an appointed Governor-General of ...
The economic de-industrialisation of India refers to a period of studied reduction in industrial based activities within the Indian economy from 1757 to 1947.. The Indian economy was controlled under the rule of the British East India Company from 1757 to 1858.
Also, from the late 18th century British cotton mill industry began to lobby the government to both tax Indian imports and allow them access to markets in India. [36] Starting in the 1830s, British textiles began to appear in—and soon to inundate—the Indian markets, with the value of the textile imports growing from £5.2 million in 1850 to ...
Mill was a proponent of British imperialism, justifying it on utilitarian grounds. [11] He considered it part of a civilising mission for Britain to impose its rule on India. [11] Mill saw his own work for the East India Company as important for the improvement of Indian society. [11]
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
Debate continues about the economic impact of British imperialism on India. The issue was actually raised by conservative British politician Edmund Burke who in the 1780s vehemently attacked the East India Company, claiming that Warren Hastings and other top officials had ruined the Indian economy and society. Indian historian Rajat Kanta Ray ...