Dadabhai Naoroji first put forward his Theory of Drain of Wealth in his paper
It was in 1867that for the first time Dadabhai Naoroji in his paper 'England's Debt to India' put forward the idea that Britain was extracting wealth from India as a price of her rule in India,that out of the revenues raised in India, nearly one-fourth went clean out of the country and was added to the resources of England', and that India was consequently 'being bled'.6 Dadabhai Naoroji dedicated his life to propagation of the drain theory and to launching a roaring campaign against the drain which was considered by him to be the fundamental evil of British rule in India.
Before the First World War nearly 97% of the British capital investment in India was made in
Around 97% of British capital Investments in India before first world war was in the administration, plantation, transport, and finance. The main motive was commercial penetration of India and its exploitation.
The commodity structure and direction of India‘s foreign trade was changed by
Correct Answer :- b
Explanation : Direction of foreign trade means those countries with which India has trade ties. Direction of Indian foreign trade has undergone a considerable change after independence by dutch.
Who said: “The British rule was a bleeding drain from India”?
The British rulers put the blame for India‘s growing poverty on
The Lancashire cotton textiles were first introduced in India, in
Who of the following constituted the main body of the middle class in Bengal in British India?
Which of the following came to constitute the core of the rising middle class in India before the Battle of Plassey?
The company used to engage local merchants to procure goods from the market on its behalf. They were called dadni-merchants, because they received advances from the company for delivering goods under stipulated terms.
How did the East India Company directly organise the drain of Bengal after acquisition of its Diwani?
The Bengal famine of 1770 has been called “the English manufactured famine” because
The biggest British capital investment in India was made in
After 1833, the single biggest source of drain of Indian wealth to Britain was
A phase (1757-1813) of British exploitation of India was marked by direct plunder and the East India Company’s monopoly trade. This period is referred to as the
The British interference in Indian politics and economy started from 1757 and since then, for roughly two centuries, she stood as the main base of the British Empire. The net outcome was the utter exploitation of India. The history of the exploitative role of British-India can be conveniently grouped into three periods:
The first is the period of ‘merchant capital’ dating from 1757 to 1813. This ‘mercantilist’ phase was marked by direct plunder and the EIC’s monopoly trade functioning through the investment of surplus revenues in the purchase of Indian finished goods for export to England and Europe.
A phase (1813-1858) saw India convert rapidly into a market for Manchester textiles and a source for raw materials. This period is referred to as the
From about 1860, when British-controlled banks and export-import firms appeared in India, this country entered the
The trade monopoly of the East India Company in India was ended and trade with India was thrown open to all British subjects by the
The East India Company’s monopoly of tea trade andtrade with China was brought to an end by the
When did the East India Company change from a trading corporation to a colonial power
Till the mid-eighteenth century, profits of the East India Company primarily came from
Why did Indian rulers tolerate and even encourage the establishment of the Company’s factories in India?
Who remarked that Indian cloth had “crept into our houses, our closets and bed chambers; curtains, cushions, chairs, and at last beds themselves were nothing but calicos or Indian stuffs”?
Which of the following countries did not prohibit the import of Indian cloth or impose heavy duties?
Indian silk and cotton textiles still held their sway in foreign markets until the time when the English textileindustry began to develop on the basis of new and advanced technology. When did this happen?
After 1757, how did the Company exploit the weavers of Bengal?
The correct answer is E as all the options are the reasons for how the Company exploit the weavers of Bengal.
Indian handicrafts lost not only their foreign markets but also their markets in India after
The correct option is Option C.
The british colonial policies in india proved moat ruinous for indian handicrafts. The real blow to Indian handicrafts fell after 1813, when they lost not only their foreign markets but, what was of much greater importance, their market in India itself. The Industrial Revolution in Britain completely transformed Britain’s economy and its economic relations with India.
What impact did the rise of a powerful class of manufacturers have on India?
When was the East India Company forced by British industrialists to grant the latter the use of 3,000 tons of its shipping every year to carry their goods to India?
By 1813, the exports of British cotton goods to the East, mostly to India, increased by nearly
When was it decided that agricultural India was to be made an economic colony of industrial England?
Which Indian commodity, on entering Britain had to pay a duty that was over three times its cost price?
Indian sugar had to pay on entry into Britain a duty that was over three times its cost price. In some cases duties in England went up as high as 400 per cent. As a result of such prohibitive import duties and development of machine industries, Indian exports to foreign countries fell rapidly.