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
The History of British India The History of British India The History of British India is a history of Company rule in India by the 19th century British historian and imperial political theorist James Mill. This "History" went into many editions and during the 19th century became the standard reference work on its subject among British imperialists. James Mill began his History of British India in 1806, expecting it to take him about three years, but its completion proved to take instead twelve years, with three substantial volumes at last being published early in 1817. The work was immediately successful among British imperialists and secured