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
Political warfare in British colonial India the political process to make the body less effective. For much of the 18th and 19th centuries, political warfare and subversion were used by the Russians to destabilise British rule in India, as well as by the British to retain a hold on those conquered subjects. This political contest, largely using proxies, is called The Great Game. The term was coined by British officer Captain Arthur Conolly in the early 19th century and made famous by Rudyard Kipling’s book Kim. The Game took place from the Caucuses to Tibet and south to India, with the wealth and control of India