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 architecture in Padang World War II, and after the war control was eventually transferred to the independent Republic of Indonesia. Padang has also been a center for coffee, salt and textile trade. Colonial architecture in Padang Colonial architecture in Padang, Sumatra, Indonesia, includes the Masjid Muhammadan. Padang has long been a trade center and was a center of pepper trade and gold mine from the 16th to 17th century . Trade extended to India, Portugal, United Kingdom and the Netherlands. In 1663 the city came under the Dutch authority (Dutch East Indies). The city was under British authority twice, during the war between