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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 ...
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.
During this period, British foreign and economic policies began treating India as an unequal partner for the first time. [16] 1850 The gross domestic product of India in 1850 dropped to 5–10% and was estimated at about 40 per cent that of China. British cotton exports reach 30 per cent of the Indian market by 1850. [17]
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]
[6] It should be noted, however, that Britain had the world's most industrialized economy and had many sources of income outside of India. Under British rule, India's share of the world economy declined from 23% at the beginning of the 18th century down to just over 3% when India gained independence. In 1700, that figure had been 27%. [6]
' Prosperous' British India, more completely titled ' Prosperous' British India: A Revelation from Official Records, was a book published in 1901 by British author William Digby that described the economic conditions prevailing in British India in the latter half of the nineteenth century under British rule. [1]
During this age India's economy expanded, relative peace was maintained and arts were patronised. This period witnessed the further development of Indo-Islamic architecture; [293] [294] the growth of Marathas and Sikhs enabled them to rule significant regions of India in the waning days of the Mughal empire. [14]
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.