India–United Kingdom relations would remain the empire's most important colony until independence. Queen Victoria became Empress of India in 1876. From a small trading outpost, India became the jewel in the British crown. In 1858, the British Government took control of the territories and treaty arrangements of the former East India Company. In 1876, the area, which included modern India, Pakistan, and Bangladesh, became "the Indian Empire" (often known historically as the "British Raj") with British Monarch Queen Victoria proclaimed as "Empress of India" (a title held by her successors until 1947). The British Indian Army was established and assisted Britain in many
Economy of India under the British Raj Economy of India under the British Raj The Indian economy under the British Raj describes the economy of India during the years of the British Raj, from 1858 to 1947. During this period, the Indian economy essentially remained stagnant, growing at the same rate (1.2%) as the population. India experienced deindustrialization during this period. Compared to the Mughal Era, India during the British colonial era had a lower per-capita income, a large decline in the secondary sector, and lower levels of urbanisation. The subject of the economic impact of British imperialism on India remains disputable. The issue was raised by