Introduction:
After the East India Company became the Diwan of Bengal, several changes occurred in the Bengal economy. However, one of the statements given does not apply to the Bengal economy during this period. Let us analyze each statement in detail and identify the one statement that is not applicable.

1. Introduction of Permanent Settlement:
- The introduction of the Permanent Settlement in Bengal was a significant economic reform implemented by the British East India Company.
- It aimed to fix the revenue demand from the landowners, known as zamindars, for an extended period, usually for ten years.
- This policy provided stability to the revenue system and encouraged the zamindars to invest in agricultural improvements.
- The Permanent Settlement resulted in the emergence of a new class of landed gentry, but it also led to the exploitation of the peasants and increased economic disparities.

2. Expansion of Trade and Commerce:
- Under the Company's rule, Bengal witnessed a significant expansion of trade and commerce.
- The Company established a monopoly over the trade of goods such as textiles, indigo, opium, and saltpetre, which were in high demand in Europe.
- The British East India Company controlled the production, distribution, and export of these goods, leading to massive profits for the Company.
- However, this monopoly also suppressed local industries and caused economic dependence on British trade.

3. Introduction of English Education:
- The British East India Company introduced English education in Bengal, aiming to create a class of Indians who could assist in the administration and trade.
- English education provided opportunities for Indians to acquire knowledge and skills that were in demand in the colonial administration and British-owned businesses.
- This led to social mobility for some Indians and the emergence of a new educated class.
- However, it also created a cultural divide between the English-educated elite and the majority of the population who did not have access to such education.

4. Decline of Indigenous Industries:
- The Bengal economy witnessed the decline of indigenous industries under the Company's rule.
- The British East India Company flooded the Indian market with cheap machine-made goods, leading to the decline of traditional industries like textiles, metalwork, and handicrafts.
- This resulted in widespread unemployment and economic distress among the local artisans and craftsmen.
- The Company's policies favored the export of raw materials from Bengal, further harming the indigenous industries.

Conclusion:
After analyzing the statements, it is evident that the statement "Introduction of industrialization in Bengal" is not applicable to the Bengal economy during this period. The British East India Company did not introduce industrialization in Bengal but rather focused on exploiting the existing resources and trade networks for their benefit. The decline of indigenous industries and the suppression of local trade are examples of how the Company's policies hindered industrial development in Bengal.