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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 India .
A number of historians point to the colonization of India as a major factor in both India's deindustrialization and Britain's Industrial Revolution. [1] [2] [3] The capital amassed from Bengal following its 1757 conquest helped to invest in British industries such as textile manufacture during the Industrial Revolution as well as increase British wealth, while contributing to ...
The English East India Company ("the Company") was founded in 1600, as The Company of Merchants of London Trading into the East Indies.It gained a foothold in India with the establishment of a factory in Masulipatnam on the Eastern coast of India in 1611 and the grant of the rights to establish a factory in Surat in 1612 by the Mughal Emperor Jahangir.
In the aftermath all power was transferred from the East India Company to the British Crown, which began to administer most of India as a colony; the company's lands were controlled directly and the rest through the rulers of what it called the Princely states. There were 565 princely states when the Indian subcontinent gained independence from ...
Key figures were arrested, mutinies in smaller units and garrisons within India were also crushed. Intelligence about the threat of the mutiny led to a number of important war-time measures introduced in India, including the passages of Ingress into India Ordinance, 1914 , the Foreigners act 1914, and the Defence of India Act 1915 .
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.
British colonial administration was dominated in the 1760s and 1770s by Warren Hastings, the first man to hold the title of Governor-General. [7] The military arm of the East India Company was directed during the Seven Years' War and the Second Anglo-Mysore War by General Eyre Coote, who died in 1783 during the later stages of the war with ...
500 BC Silver punch-marked coins [1] were minted as currency belonging to a period of intensive trade activity and urban development by the Mahajanapadas. [2] [3]1 AD Indian subcontinent under the Gupta Empire united much of the subcontinent, contained 33.21% of the world’s population and contributed to around 33 to 35% of World's GDP [3] and generated an estimated average of $450 (1990 ...