Impact of British Economic Policies on Indian Trade

The British conquest of India transformed a once self-sufficient and export-driven economy into a colonial appendage of British capitalism. Between 1757 and 1947, British economic policies restructured India’s trade from balanced internal-external exchanges to unilateral, export-oriented dependency, ensuring maximum advantage to Britain. This period marked a shift from “prosperous pre-colonial trade” to “deindustrialised, drain-based colonial economy.”

Pre-British Trade Structure

Feature

Pre-1757 India (Mughal & Regional States)

Exports

Textiles, spices, indigo, handicrafts, steel, precious stones

Imports

Bullion, horses, luxury items

Trade Balance

Favourable – India was a “sink of gold and silver”

Centers

Surat, Masulipatnam, Calicut, Bengal ports

Nature

Multilateral – with West Asia, Southeast Asia, and Europe

Colonial Trade ....

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Indian History