MHI-05: HISTORY OF INDIAN ECONOMY
Course Code: MHI-05
Assignment Code: MHI-05/AST/TMA/2016-17
Total Marks: 100
Q7:- Discuss the impact of early colonialism on India’s
foreign trade in the context of Surat and Bengal.
The period between the
British subjugation of Bengal in 1757 and the transfer of power in 1947 saw a
dramatic transformation of the Indian economy. From being at the center of the
Indian Ocean trading system as the principal provider of textiles, finished
goods and a variety of spices, India slipped to the rank of one of the poorest
country in the world. Paradoxically, this transformation was accompanied by the
extension of market economy and the rise of a modern economy based on machinery
and wage labour.
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