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
History of measurement systems in India measures. These records were later used to collect land revenue corresponding to the land holdings. British units of measurement were adopted in India as first the East India Company and later colonial rule gained foothold. The Republic of India adopted the metric system on 1st october 1958. However, the traditional units still prevail in some areas. Chakrabarti (2007) holds that: 'Yet a few areas have still remained untouched by the metric system. In the land-measuring system in India, possibly one of the most complex and archaic systems, we follow different sets of measuring units and systems in different parts of