British rule in India upon Indian economy
Before the age of colonialism and imperialism, the society of India is developing in their own pace trying to expand their territories and resources through conquering neighboring lands. In this aspect, the Indian society of the pre-colonial era is viewed to be independent from the rapid development of the global community into the new world. In terms of economy, the trade and commerce of the said nation is only limited to their neighboring nations with only minimal extent thus their monetary and financially concepts are still considerably primitive.
However, all of these things significantly change when the British rule entered the Indian society and opened their economic gates to the world community of trade. During the colonial and imperialism era of the exploration ages, the British society entered the nation of India and enforced their rulership over them through economic and diplomatic approaches. As they established the trade relationship between their respective countries, the British community has taken interest to the native products and the rich resources of India thus seeing economic potential for this land.
For this reason that the Indian Peninsula has become a vital part of the growing British Empire. The British colonizers established global trade routes opening the
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In addition, other products such as the Persian silk, jewels and tea are also traded by the East India Company marketing the Indian society as potential economic leader thus acquiring their byname as “the brightest jewel” in the British Imperial Crown (Rothermund, 1993). Thus, as the British rule in the Indian society manifests as the one responsible for the opening of the trade ports of the latter to the global economic community, it can be said that the British colonization is indeed a significant event in the Indian economic history.
The said event can be translated as the birth of the new Indian society becoming more modernized and industrialized as they opened their economy and become part of the global trade nations. Thus, this indeed is the starting point of the rapid economic development of the Indian society as part of the global community of the modern world. Bibliography Rothermund, Dietmar (1993). An Economic History of India. Routledge. 2ND Edition. ISBN-10: 0415088712.