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Railway map of India in 1871 CE Railway map of India in 1909 CE. British investors built a modern railway system in the late 19th century—it became the then fourth-largest in the world and was renowned for the quality of construction and service. [118] The government was supportive, realising its value for military use and for economic growth.
India's national debt ballooned under British rule, and half of India's revenue was being siphoned to foreign countries, primarily England. Indian taxes were also used to fund the British Army and its expeditions globally, with 64% of total revenue funding British Indian troops outside of India in 1922. [6]
The Company Rule in India refers to areas in the Indian subcontinent which were under the rule of British East Indian Company.The East Indian Company began its rule over the Indian subcontinent starting with the Battle of Plessey, which ultimately led to the vanquishing of the Bengal Subah and the founding of the Bengal Presidency in 1765, one of the largest subdivisions of British India.
Under British rule, India's share of the world economy declined from 24.4% in 1700 down to 4.2% in 1950. India's GDP (PPP) per capita was stagnant during the Mughal Empire and began to decline prior to the onset of British rule. [144] India's share of global industrial output declined from 25% in 1750 down to 2% in 1900. [126]
Maddison's estimates of global GDP, [6] China and India being the most powerful until the 18th century. Bengal Subah was valued 50% of Mughal India's GDP.. 1500–1600 Indian subcontinent, mostly under the Mughal Empire (after the conquest of the Delhi Sultanate and Bengal Sultanate) became economically 10 times more powerful than the contemporary Kingdom of France, [7] contained an estimated ...
A map of British India in 1909. The Great Depression in India was a period of economic depression in the Indian subcontinent, then under British colonial rule.Beginning in 1929 in the United States, the Great Depression soon began to spread to countries around the globe.
In the aftermath of in the late 1940s and the Indian subcontinent's independence from British rule, Pakistan chose to have a more capitalistic economy and aligned itself more closely with the United States, while India went with a more closed economy dubbed as the "License Raj" and eventually aligned more closely with the Soviet Union.
A new wagon numbering system was adopted in Indian Railways in 2003. [99] The requirement of wagons was previously met by Bharat wagon and engineering with the procurement and manufacturing now done by both in public and private sector. [1] The earliest goods trains in the 1800s were hauled by imported steam locomotives. [9]