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
India Conquered India Conquered India Conquered: Britain's Raj and the Chaos of Empire is a 2016 book by British historian Dr Jon E. Wilson, Reader in Modern History at King's College, London. "India Conquered" is a comprehensive history of British colonial rule in India. The book aims to lay bare that "beneath the veneer of pomp and splendour, British rule in India was anxious, fragile and fostered chaos." It demonstrates that while British colonial rulers projected themselves as heroes and nation-builders, the reality for those under occupation was "a precarious regime that provided Indian society with no leadership, and which oscillated between