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
British rule in Burma War, which lasted less than two weeks during November 1885. The British government justified their actions by claiming that the last independent king of Myanmar, Thibaw Min, was a tyrant and that he was conspiring to give France more influence in the country. British troops entered Mandalay on 28 November 1885. Thus, after three wars gaining various parts of the country, the British finally occupied all the area of present-day Myanmar, making the territory a Province of British India on 1 January 1886. The British decided to annex all of Upper Burma as a colony and to make the whole