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India experienced deindustrialisation and cessation of various craft industries under British rule, [12] which along with fast economic and population growth in the Western world, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950, [13] and its share of global industrial output declining from 25% in 1750 ...
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 ...
In terms of urbanization, Mughal India also had a higher percentage of its population (15%) living in urban centers in 1600 than British India did in the 19th century. [20] A number of modern economic historians have blamed the colonial rule for the state of India's economy, with investment in Indian industries limited since it was a colony. [21]
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.
Nearly 70% of India's GDP is driven by domestic consumption; [79] country remains the world's fourth-largest consumer market. [80] Aside private consumption, India's GDP is also fueled by government spending, investments, and exports. [81] In 2022, India was the world's 10th-largest importer and the 8th-largest exporter. [82]
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]
The Bengal Presidency was established during British rule. The borders of modern Bangladesh were established with the partition of Bengal between India and Pakistan during the Partition of India in August 1947, when the region became East Pakistan as part of the newly formed State of Pakistan following the end of the British rule in the region.
Section VII Archived 11 July 2010 at the Wayback Machine from Dharampal, India Before British Rule and the Basis for India's Resurgence, 1998. Chapter IX. The famine of 1770 in Bengal in John Fiske, The Unseen World, and other essays; R.C. Dutt, The Economic History of India. Archived 19 July 2017 at the Wayback Machine