It mostly impacted the Indian economy, India was an important part of the British Empire in the late 1800s and early 1900s. In fact, India was often considered to be Britainâs most important colony from an economic standpoint and as a result was referred to as the âJewel in the Crownâ. The economic importance of India to Britain is heavily related to the emergence of the Industrial Revolution in England. The Industrial Revolution is one of the most significant events in all of world history and had a profound impact on the modern world. It began first in Britain in the 1700s and transformed society throughout the 1800s with the growth of the factory system. In fact, the factories in England that emerged during the Industrial Revolution came to play an important role in British imperialism in India. This is because India served two important functions for Industrial England. First, Britain viewed India as a source of raw materials that could be used to fuel the factories in England. At the time, India economy was largely centered around agriculture, which would then be exported to England. The most common of these agricultural resources included: jute, cotton, sugar, tea, coffee and wheat. Second, India proved to be an important market for the goods that were developed in British factories. As a result, the British benefitted from selling goods to the people of India.
Britainâs economic interference in India during the time of the British Raj (the period of direct British rule over India) is a heavily debated topic. Some argue that the British helped to develop the country of India, which benefitted it by the end of the British Raj. For example, some historians have argued that Britain helped India transform to a more modern economy, following the stagnant policies of the Mughal Empire. Specifically, Britain developed many canals, roads and railways across India. In fact, during the time of the British Raj, India developed the fourth largest rail network on the planet with the help of British engineering. This infrastructure benefitted India in that it allowed the country better transportation networks that ultimately helped it transport goods and people across the country.
Whereas, others argue that British economic policies in India were repressive and benefitted the British Empire over the people of India. For instance, Britain promoted the export of many of Indiaâs natural resources, especially to industrial England. The British benefitted from this system because the Indian resources fuelled the factory system present in England during the time of the Industrial Revolution. In fact, the British passed laws in India at the time that forced Indian citizens to produce crops for use in English factories instead of producing food crops. This is controversial, because India was stricken by several severe famines at the time, that some suggest could have been lessened with different economic policies. In fact, it is estimated that as many as 55 million Indians died from famine during the years of British rule in India. For example, the Great Famine, which is said to have occurred from 1876 to 1878, led to the death of 6 to 10 million people. As such, these criticisms of British imperialism in India led to a growth in Indian nationalism and a call for independence from British control.
