Economic Impacts of Colonial Rule in India

[@matthewsperoni7788]

Transcript: Economic Impacts of Colonial Rule in India Amit Sengupta (video transcript) (0:00) To understand any problem we need a historical perspective. Only then it makes sense as to what caused, what happened, and what can be done. India’s colonial experience provides that perspective. In this video we are going to look at colonial impact on broad sectors of the economy and social classes. (0:17) Since the 18th century, the world economy has been influenced by two major forces. One is the Industrial Revolution, and the second one is Colonialism. And it is because of these two forces, the world was divided into developed and developing economies. Industrial revolution took place in western Europe, especially Britain. And the impact due to this revolution is unmatched. It led to increase in productivity of labor, and prosperity, mainly because machines changed people’s way of life, as well as the methods of manufacture. However, the benefits of this revolution did not reach the regions of Asia, Africa, and Latin American. It is simply because of colonialism. These regions became impoverished after they became colonies. So, Industrial Revolution and Colonialism worked parallel because it prospered the countries of Europe, and looted the countries which were their colonies. (1:10) Now India’s colonial experience under British was for two and half centuries. That is, from 1700 to 1947. This timeline can be further divided into two important halves, just to understand the problem in a better sense. The first half was from 1700 to 1857, wherein India was ruled by a trading company called East India Company, and the other half, that is from 1858 to 1947, witnessed a direct rule by the British crown. Now these two periods represented different kinds of British interest in India, and that got further translated in the economic policies for India. (1:47) The trading activities of East India Company were very harsh. They would underpay the peasants, weavers, and local merchants, while trading goods. Often their methods of doing business involved violence, coercion, and other sorts of threats. (2:00)Then they also introduced the land revenue system in India, wherein the company would collect revenue on land. Under this system, Zamindari, Ryotwari and Mahalwari systems of land settlements were created, which further increased the problems of Indian agriculture and peasantry, because now the system created a new class of intermediaries, that is the middlemen, who collected revenue on behalf of the company. Try to understand this. Now the peasants had to pay more in terms of revenue demand of the company, which also included the marginal commission of middlemen. (2:32)This created immense pressure on the peasants. They were forced to shift their cultivation from food crops to commercial crops. As a result, the peasants became market dependent for food grains, and that led to large-scale famines. Due to combined weight of all these problems, peasants were forced to sell their lands to merchants or moneylenders, or become tenants on the estate lands. Simultaneously, the rural craft, and urban industry, faced similar problems. And due to that, workers joined the ranks of landless and poor. (3:01) In the middle of this crisis, the intermediaries, that is the middle men, they emerged as the new dominant social class. Neither the company, nor the middlemen, showed any interest in the long term development of agriculture through investments. Now, this problem only became worse after the shift of power from the company to the British crown. It became pretty evident that the British industry had acquired India to be the major source of raw materials, and assured market for British manufacturers. (3:30)Now this is where it gets very interesting. The British now felt the compulsion to invest in India, and that too, in selected sectors of irrigation, transport network, and port development. As the civil and revenue administration grew, they also felt the requirement of manpower. Therefore, to meet that requirement, English education was introduced. (3:49) Now, for a moment, you may realize, “look, there is an investment by the British for the betterment of India.” Then you must also realize, “at the cost of what?” There was no relief to the peasants, revenue demands were increasing, and the laborers employed in tea, coffee, and rubber plantations in India, lived in slave-like conditions. (4:08) Indian industry also suffered a major decline under the crown rule. Competition from British manufactures meant a decline in demand for domestic hand looms, metals, tools, paper products, and so on. This competition ruined millions of artisans and craft industries. (4:24) British capital was mainly directed to banking, commerce, shipping, and insurance so there was no development of heavy industries. They never encouraged any native entrepreneurial class to create business. This method of declining traditional industries, and not letting the modern and heavy industries grow, is known as deindustrialization. And if you have seen the video of Mr. Shashi Tharoor’s speech at Oxford Union, he nicely said, “Britain’s Industrial Revolution was actually premised upon the de-industrialization of India.” (4:56) British introduced new ways of draining the Indian economy. India’s foreign trade surpluses were transferred to British accounts. India was also made to pay for British wars in Afghanistan and China. So these were some of the ways of draining the Indian economy. But overall, the economic impact of colonial rule in India was devastating. They took no responsibility for any kind of welfare of Indians. And because of colonialism, Indian economy suffered stagnation and decline, which later on became a major challenge for development of the independent India.

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Thank you so much man! I have trouble listening so no cc was painful for me this is so helpful

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OMG Thank you SO much!

[@AMANKUMARSINGH-yp1qz]

Unbelievable effort

[@premsinghrathla2963]

Tq sir its use full to me for recall notes

[@ShashwatSinhaIITROORKEE]

Well, I have watched many online videos relating Pre and Post independent India but let me tell you that this is one of the best narration I have ever heard. Well depicted and organised. I have even watched your videos related to geography. Thank you for creating such wonderful content for students and helping us in many ways. Best part - The images, the timeline, and of course your clean and distinct voice. Regards Sir!

[@adriancheale1784]

A good video, my friend. I'm English, ashamed at my country, past and present. There are far too many Empire apologists and not enough people like you!

[@napoleonbonapartelempereur9502]

Adrian Cheale It's Ok.Modern Day English People Are Very Polite nd Respect Our Culture But When Everyone Say India Poor Then Why They Don't Think That Who Made India Poor??!!

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[@Alex-yr3zu]

Industrial revolution was not a random event. It happened in the right place -western Europe.Colonisation helped them to invest and invent new technologies. Example Penicilin saved 100 million people till date.Technological advancement happened d because money was poured from colonisation.An alien studying the earth history will think the industrial revolution and colonisation was inevitable for a global revolution which led us to the knowledge and life style we enjoy today.

[@KcMsPik7278]

@@Alex-yr3zu colonisation is the purest form of exploitation of another country. Industrial revolution is good but reviving new technology at the cost of exploiting others is not acceptable.

[@Alex-yr3zu]

Kaushik Chatterjee The actual sin is not pursuing for better technologies rather than accumulating riches and doing nothing,again from an alien perspective.Technolgy will one day bring peace ,end hunger and cure diseases.And boundaries are just arbitrary lines drawn by men ,so colonising one country for resources and exploitating them in a way is sad but like I said is inevitable.

[@avashya1269]

wonderfully interpreted linking everything in a short duration ! easy to recall :)

[@GururajBN]

Postscript: Untold part of the story is that even after independence, Nehru and his dynasty continued the colonial system of education, and our colonial mindset continued. We never thought as an idependent country. Furthermore, embracing socialism, and the hard left turn by Indira Gandhi in early 1970s, worsene India's economy. Nehru dynasty perpetuated the evils of the British imperial rule.

[@nabanitaghosh3224]

This is great work! Helped me so much to teach my Danish high school students about Empire! Thank you!

[@MsPikz]

Excellent explanation & analysis - lucid, well-reasoned and following a logical sequence.

[@premsinghrathla2963]

Best teacher of India .iam very very thankful to u sir

[@princesrivastava7877]

Your best quality is summerizing vast content into a smallest possible manner...ur short video with so much content is your biggest attribute.

[@ashokpaul1156]

Beautifully explained.. nice voice tone 👍

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Wow... It was amazing... The best way to learn ...

[@mrs.kalimi3298]

Thankyou very much for a precise explanation. From a fellow teacher.

[@vikasprajapati6970]

Sir please make video on 1857... and thank you for wonderful explanation..😊🙏

[@SimSummer]

Thank you this helped me with my history exam.

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These things i really loved from you is known as your great accent in English as the way you explaining things easier ! Even though I am not from India but i have looked for Indian history ,geography, Art , Mythology ..science, and techonogy about Indian competitions(because I am gonna participate if God willing from 28/November/2020) but every video i checked out they are speacked in mixing English with another language,difficulte to understand even i don't know which language they are talking! BE thankful for having such a great educator! thanks, sir

[@abcd12899]

It was very informative with simple language , understanding thnk u👍👍👍👍😊

[@dimitarie]

Thanks for posting very interesting

[@SillyMidOnn]

Have watched almost all your videos. Your slides are the best. Thanks for the effort.

[@sanbarman8449]

Very informative explanation .thank you sir it's really helpful. Good bless you

[@modiakhil1998]

ur way of presentation is really good 👍👍👍👍

[@sunitamahato381]

Sir please make videos on econmics ur videos are very easy to understand.

[@lavanyakalimishetty]

Thank you . please also make videos for polity & economics ncerts

[@beepboop449]

very digestable and easy to follow!

[@kashmirahmahzuz9449]

I'm in love with your voice sirrr ❤️

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Thank you so much 🙏

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I have watched all your videos. I am very thankful to you . thanks

[@arshiansari460]

Highly comprehensive

[@sreekarpradyumna]

Hey Amit. Would you mind if I linked to your video on a blog post? I won't be embedding it, I'll be hyper-linking so that viewers get routed to your channel. Really love this explainer and it's exactly what I'm looking for.

[@akhiltej4604]

Great informative video 🌟

[@ah4990]

are there any sources to the information?

[@battelmaster723]

Can you explain in hindi I can't understand only English with hindi explanation it's a very good 👌👌 video

[@dpdhal5362]

Thank U Very Much Sir 🙏💯

[@Rayoffhope-1]

plz write the notes below in description, then it would me much easier for ua to understand... 😊

[@TheSalaskar]

thnq sir

[@Biren-n4d]

little fast but the presentation is pretty much interesting

[@MrMaxenen11]

How was India compared to China, Russia, South America and Africa before the British came?

[@shivaswamyvc]

Excellent explanation sir

[@bhushandonde3560]

Very very nice lecture

[@MahaLakshmi-mk1wc]

Mr.amit pls make a video of Indian national congress from 1885 to till 1947

[@SathishKumar-ng5dw]

Superb sir

[@swamysriman7147]

And also, how money and trade worked then......please

[@kalpanasaha5880]

Excellent

[@preetidevi7872]

Thank you sir

[@gojira8495]

But then, there’s brexit

[@sunilrasal3615]

Sir please provide you are lecture in hindi also

[@swamysriman7147]

How is this different from Australia, South Africa and Canada??? Why are they ahead of us now???

[@saminder987]

Those were settlement colonies, while India and some others were exploitation colonies. British found out that they cannot really settle in India as it was already heavily populated and it was a place with lots of small kingdoms, so the British just looted these colonies and exported all that wealth for their own development. Do you see any white person living in India today? No, because they never intended to settle in India, but you see a lot of them in Australia, South Africa, Canada, etc. So, in short, the British took the money and just left.

[@KcMsPik7278]

@@saminder987 exactly and in short the other countries were exploited even further i.e. the British killed or captured other countries and suppressed the aboriginals.

[@ap5141]

Because here in Australia, the Colonisers decimated the Indigenous peoples by literally killing them with smallpox (biological warfare) or 'breeding them out' by taking Aboriginal children away from their families...and then decided to take over the land and basically rebuild the nation into a white population. So in a sense, Australia may be considered a Western nation like the US or Europe, despite it not being in the literal 'west' of the world.

[@rahulrathor8351]

plz give this video in hindi

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Bench was here if there are any tamaraws here😁

[@gojira8495]

Lol

[@Studynext6933]

Thanks

[@AyushPatel]

vERY NICE VIDEO

[@sachindrapandey3242]

I was reading an article and stucked due to a word COLONIALISM. Because of curiosity to know more , fortunately found this video. Thank you for sharing your wisdom.👍💪

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[@shobadasari5363]

Now it is reversed, after the absence of unions, and a weaker landownership, an even distribution of land, land ceiling, the peasant is trying to dictate terms. So deindustralisation has its own backfalls and added to woes are magnified by demands made by the caste system, you may interprete this statement in whatever manner you like---- a laissez faire attitude, a malaise, an interpretation that government policies will solve all their problems. So there ...... ofcourse middlemen do not solve all problems.

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Can you guys stop commenting and just finish your essay in AP already

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[@NisarKhan-wp2ym]

Sir explain in Hindi if we understood English we not came on your channel we also can learn from books

[@Alan_Mac]

No mention of the growth in the Indian economy during colonial rule? Ignoring the fact that economic output doubled over that period?

[@simonghostriley111]

Stfu 100s of millions died because of artifcal famines. Dont throw around bold claims with zero evidence

[@Eram15]

Output doubled only to sustain the Britain rather to benefit India. Along with that burden of more and more taxes was also imposed that ultimately resulted in the indebtedness of the ryots. No point of positive development was seen in India so what for we are going to mention them?

[@hassan10ify]

Eram Firdaus imagine if Britain wanted to settle in India like they did in america

[@Yuvrajsinh6]

🔥👌🏻🙏🏻

[@AKSHAYSIRMARATHIPHYSICS]

Middle class & Deindustrialisation

[@sahith6482]

0:00

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Excellent