India was highly profitable for the British Empire in the 1800s
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Historical references and economic studies document that India was treated as the most profitable colonial economy and a major source of wealth extraction for the British Empire during the 19th century.
Among all the national movements in colonial countries, the Indian national movement (1885-1947) was the most deeply and firmly rooted in understanding the nature and character of colonial economic domination and exploitation. Its early leaders, known as the moderates, were the first in the 19th century to develop an economic critique of colonialism. The constant flow of wealth from erial return has been described by Indian nationalist and economists as drain of weaIndia to England for which India did not get an adequate economic, commercial or matlth from India. They made it clear that the colonial government was utilizing Indian resources, both natural and human, as land revenue, agriculture and industry not for developing India but for the industrial development and extension in Britain. The drain of wealth was interpreted as an indirect tribute extracted by imperial Britain from India year after year. According to the nationalist calculations, this chain amounted to one-half of the government revenues more than the entire land revenue collection and over one-third of India’s total savings. The Drain of Wealth theory was systemically initiated by Dadabhai Naoroji in 1867 and further analyzed and developed by R. P. Dutt, M. G Ranade, etc. Their focal point of critique of colonialism was the drain theory. They pointed out that a large part of India’s capital and wealth was being transferred or drained to Britain in the form of salaries and pensions of British civil and military officials working in India, interests on loans taken by the Indian government, profits of the British capitalists in India and the home charges or expenses of the Indian Government in Britain.
... British Empire . In the Far East , British policy was shaped by her rule over India and by her trading interests , especially in the highly profitable exchange of Chinese tea and silver against Indian opium . By mid - century , the ...
In 1800, Europeans governed about one-third of the world's land surface; by the start of World War I in 1914, Europeans had imposed some form of political or economic ascendancy on over 80 percent of the globe. The basic structure of global and European politics in the twentieth century was fashioned in the previous century out of the clash of competing imperial interests and the effects, both beneficial and harmful, of the imperial powers on the societies they dominated. This encyclopedia offers current, detailed information on the major world powers and their global empires, as well as on the people, events, ideas, and movements, both European and non-European, that shaped the Age of Imperialism.
The British Empire comprised the dominions, colonies, protectorates, mandates, and other territories ruled or administered by the United Kingdom and its predecessor states. It began with the overseas possessions and trading posts established by England in the late 16th and early 17th centuries, and colonisation attempts by Scotland during the 17th century. At its height in the 19th and early 20th
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The East India Company drove the expansion of the British Empire in Asia. The company's army had first joined forces with the Royal Navy during the Seven Years' War, and the two continued to co-operate in arenas outside India: the eviction of the French from Egypt (1799), the capture of Java from the Netherlands (1811), the acquisition of Penang Island (1786), Singapore (February 1819) and Malacca (March 1824), and the defeat of Burma (1826).
From its base in India, the company had been engaged in an increasingly profitable opium export trade to Qing China since the 1730s. This trade, illegal since it was outlawed by China in 1729, helped reverse the trade imbalances resulting from the British imports of tea, which saw large outflows of silver from Britain to China. In 1839, the confiscation by the Chinese authorities at Canton of 20,000 chests of opium led Britain to attack China in the First Opium War, and resulted in the seizure by Britain of Hong Kong Island, at that time a minor settlement, and other treaty ports including Shanghai.
During the late 18th and early 19th centuries, the British Crown began to assume an increasingly large role in the affairs of the company. A series of acts of Parliament were passed, including the Regulating Act 1773, East India Company Act 1784 and the Charter Act 1813 which regulated the company's affairs and established the sovereignty of the Crown over the territories that it had acquired. The company's eventual end was precipitated by the Indian Rebellion in 1857, a conflict that had begun with the mutiny of sepoys, Indian troops under British officers and discipline. The rebellion took six months to suppress, with heavy loss of life on both sides. The following year the British government dissolved the company and assumed direct control over India through the Government of India Act 1858, establishing the British Raj, where an appointed governor-general administered India and Queen Victoria was crowned the Empress of India. India became the empire's most valuable possession, "the Jewel in the Crown", and was the most important source of Britain's strength.
A series of serious crop failures in the late 19th century led to…
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