ranjan

During the pre -British period, the problem of stagnation, poverty and backwardness of Indian economy was not so acute. With the advent of British in India, the economic structure in India had to face a lot of change. During the first period of 100 years i.e. from 1757 to 1857, British looted huge amounts of resources from India. Cottage industries were totally destroyed due to the colonial strategy followed by the British rulers. The gradual disappearance of Indian rulers and their courts who were the main customers of Handicrafts produced also gave a big jolt to these industries.       British did not permit to modernize the industrial sector during 18th and 19th century. Indian economy was turned into importer of British manufactured goods and exporter of tea, coffee, oil seeds, foodstuffs and other industrial raw materials which were considered essential for running British industries in England.    The huge amount of drain of capital assets started after 1857 was mainly responsibl