Does the Colonisation of India result in our Economy? Colonization is the process when a weak country is captured by a strong country or power leading to cultural, traditional, and economic changes. It affected India by change in culture, tradition, education system political system e.t.c. Colonial India was the part of the Indian subcontinent that was under the jurisdiction of European colonial powers during the Age of Discovery. Colonization had a severe impact on Indian traders and merchants. Indian markets were fully captured by the British and heavy taxes were imposed on the export of Indian products in the outside market. In this way, the market for Indian goods was losing popularity and Indian traders and merchants faced heavy losses. British colonization forced open the large Indian market to British goods, which could be sold in India without any tis or duties, compared to local Indian producers who were heavily taxed. British economic policies gave them a monopoly over India's large market and raw materials such as cotton. The Industrial Revolution in England created a serious impact on the Indian economy as it reversed the character and composition of India's foreign trade. This led to the destruction of Indian handicrafts although there was no substantial growth of modern factory industry.

Yogita Parihar

187 resources

1

1

1

Like