📄 Abstract
India under the British rule can be called as â??Drain of Wealthâ? according to Dada â??Bai Nehru-jiâ?, because they restricted the Indian people to produce only the raw materials and made Indians to import the final goods from Britan, so it is termed as â??Drain of Wealthâ?. British colonial rule made India`s Commerce growth, exports and imports to be restricted to some goods and its economic value was benefiting more for colonial Britishers expenditure. The British rule lasted for two centuries before India won its independence in 1947. The sole purpose of the British Commerce, economic policy was to reduce India into a feeder economy for expansion of Britainâ??s own modern industrial base. Pre independence India had a flourishing economy based on agriculture and handicrafts. The quality of workmanship in field on textiles and precious stones was high leading to a worldwide base for Indian products. The British policy was to turn India into an exporter of raw materials and consumer of finished goods. This led to disruption of Indian economy. The British never made any attempt to calculate the national or per capita income. Amongst Indian economists V.K.R.V Rao was first to do so. Some Economists, Charted accountants predicted that there was surplus production in Indian Commerce growth, agricultural output, but due to heavy taxes and pests attack on crops, made small and marginal farmers to suffer more.
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📚 How to Cite:
T.M. Devaraja , INDIA'S COMMERCE GROWTH IN THE ECONOMY AT THE EVE OF INDIAN INDEPENDENCE (IN THE PERSPECTIVE OF INDIA BEFORE 1950) , Volume 8 , Issue 8, august 2022, EPRA International Journal of Multidisciplinary Research (IJMR) ,