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 as the ultimate goal. In the 1857–58 Indian Mutiny of native soldiers serving in the armed forces of the East India Company, many British suspected Russian or Persian agents of having a hand in spreading rumours that sparked the conflict; the core of the rumours were that the British had smeared pig and cow fat on the ammo cartridges used by the sepoys. The fat on the cartridges, which would have to be opened by mouth prior to being loaded into a rifle, would have spiritually desecrated the Muslim or Hindu soldiers. Political warfare in British colonial India Political warfare