Unit-1 The Consequences Of Colonialism

Understand how India came to become what it was at the time of Independence and grasp political, social and economic processes.

Why did the British shift the emphasis of exploitation to "export of raw material and import of finished goods"?

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Learning Pundits Content Team

Written on Apr 15, 2019 6:46:36 PM

Much of the secondary manufactures were destroyed during the course of the first half of the 19th century and during this period no new industry grew in India. This process has been called by economists as de-industrialisation. The beginning of this process of de-industrialisation started, to link up with a point made earlier, with the ending of the monopoly of trade of East India Company in 18 13 which itself overlapped with the Industrial Revolution gaining full momentum in British India, beginning with around 1800, entered into a classical mould of colonial exploitation, popularly also rightly perceived as "import of raw material and export of finished goods" by the metropolitan economy or vice-versa if looked at from India's or any other colony's point of view.