Examine critically the various facets of economic policies of the British in India from mid-eighteenth century till independence.

The British economic policies evolved over the period, but exploitation of resources and tax revenue maximization from India for benefitting Britain remained the key underlying goal. Policies led to deindustrialization and drain of wealth.

18^th century

• In the mid-18th century, the exploitative land revenue policy focused on maximizing the East India Company revenue extraction from peasants. This starved investment in agriculture.
• Trade policies encouraged exports of Indian raw materials to feed British industry while restricting imports of British manufactures to India. This led to decline of Indian artisans and domestic industry.

19^th century

• After gaining political control in the mid-19th century, the British implemented laissez-faire policies emphasizing free trade, limiting public investments to railways, and minimal interference in cultural affairs. But the discriminatory policies continued against locals.
• Infrastructure development also primarily served British colonial interests rather than Indian welfare.

20^th century

• In the 20th century, some positive measures were taken for poverty alleviation and rural development but reluctance to boost Indian industries continued as British industries pressurized to maintain captive markets.

On the whole, economic exploitation rather than development was the core motive till independence. The colonial rule led to real income stagnation, impoverishment of artisans, and drain of Indian wealth.

Thus, while some beneficial policies were experimented with, economic exploitation and discrimination formed the bedrock for the British to leverage Indian resources and taxes to fuel the industrial revolution and economic growth in Britain itself.

Topics: GS-I: Modern Indian History & Freedom Struggle