Economic history of India Indian reserve Bank held a positive balance of £1160 million, with it, on 14 July 1947, and that British India maintained a trade surplus, with the United Kingdom, for the duration of the British Raj eg. Source: Indian sterling balances, p. 2, 15 Jan.1.1947, Bank of England (BoE), OV56/55. Modern economic historians have blamed the colonial rule for the dismal state of India's economy, with investment in Indian industries limited since it was a colony. Under British rule, India's native manufacturing industries shrank. During the British East India Company's rule in India, production of food crops declined, mass impoverishment and
Colonial Assam Colonial Assam Colonial Assam (1826–1947) refers to the period of History of Assam between the signing of the Treaty of Yandabo and Independence of India when Assam was under the British colonial rule. The political institutions and social relations that were established or severed during this period continue to have a direct effect on contemporary events. The legislature and political alignments that evolved by the end of the British rule continued in the post Independence period. The immigration of farmers from East Bengal and tea plantation workers from Central India continue to affect contemporary politics, most notably that which led