Britian was the most powerful country at the time of its empire in India. Between 1850 to 1890, Great Britian had a very powerful control over the world. Expanding from, fromerly known, United Kingdom to China and from China to the North America’s maybe South America. It had terrotories between these land masses. With its naval glory and pride and its superiour land army, India was just another country to take over who played a big part in their economy. India is known by many countries as the economical “Gold Mine.” For economic, nationalist, and humanitarian reasons, Britian’s powerful nations have often interfered with the affairs of weaker nations. Britian’s powerful nations have in the past exploited less fortunate ones for resources, capital, and knowledge. Yet in return, India has gained the technology and capital that, over a period of time and development, improved its quality of life.
Indian economy was transferred into a colonial economy whose nature and structure was determined by the needs of the British economy. High revenue demands and rigid manners of collection forced peasants into the clutches of the moneylenders. Expanding population put greater pressure on land as there was no corresponding development of industry. India “inherited” from Britian a cheap and easy system of transport was important for the flow of British ready made goods and the export of raw material to Britain on large scale. Roads were improved and steam ships were introduced. But real improvement came with the railways which started in 1853, between Bombay V.T. and Thane. In her trade with other countries, India usually maintained a favourable balance, which were used for paying off various kinds of dues charged on India by Britain. With Britian leading the Industrial Revolution, India was bound to be second to industrialize. Up to 1914, Industrial development was mainly restricted in the production of export of those goods with the natural advantage (jute, tea etc.) and in those areas where competition with British counterparts was not serious (coarse goods).
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... the Indian agriculture sector. But, with the liberalization of India economy, there has been a sudden spurt in contract farming ... government policies. The role of Contract Farming in India Rural Economy involves government and private participation along with the rural ... rules that governs the process of Contract Farming in India Rural Economy are as follows * Agricultural Produce (Grading and Marking ...
During the inter-war period of 1914 – 39, it was in the production of consumer goods for mass market within India, mainly due to war tariffs and depression. Finally the last decade of British rule from 1939-47, brought another phase – the production of capital goods for the domestic market. It started with factories and the mining of natural resources, but it eventually came to India’s fully industralized civilazation, and that’s not all. British rule taught Indians to see themselves as Indians, and its benefits included railways, roads, canals, schools, universities, hospitals, law and a universal language. There were also habits of mind and government which derived from Britain.