Economic Progress of the British in India till 1857

The reign of the company generally divided into three periods, so far the economic point of view.

First Phase(1600 AD to 1757AD)

The period from the battle of Plassey to the Charter Act. Of 1833.

Third Phase (1833 AD)

From the Charter Act. of 1833 to the Revolution of 1857.

During the first phase, the East India company remained mainly a trading body. In this period the company made huge profits by setting Indian goods particularly cloth, which was most popular among the British people. This period is called the age of development and encouragement.

The second phase of economic development of the country is called the age of control. With the acquisition of Diwali of Bengal, the company began to use its political power to push its Indian trade. It began to utilize the revenue of Bengal to finance the export of Indian raw materials to England and import of produced goods of England to India. To ruin the Indian textile industry, the British Government imposed heavy duties on Indian textile entering England.

The third phase of the reign of the company from 1833 is called the age of economic supremacy. In this period, with the coming of the Industrial Revolution in England extension of the supremacy of the British in the field of the economy experienced momentous changes. The company did not protect the Indian textile industry but allowed foreign good free entry.

Drain of Wealth

The British come to India as a treading body, and they began to rule India after the battle of Plassey in 1757 AD. When the /company became the master of Bengal they slowly began to take away 63the wealth to England. Only from Bengal, by transferring the power of Nawab Ship of Bengal from one to another, the company collected three crores eighty lacs pounds during 1757 to 1780 AD. They did not spend a large part of the taxes and income they derived from India for the welfare of the Indian people. They took it to England, their home country.

System of communication during the reign of the company since 1857

In the advent of the British rule in India, the means of transport and communication in the country were backward. In the middle of the 18th century, the company got repaired some roots for them, movement of its troops. Public works department established by Lord Dalhousie started building modern roots in India. Later the British got built some roots to promote their trade interests.  It was in the time of Lord Dalhousie that the first railway was constructed and opened for traffic. The first railway was opened between Bombay to Thane, a distance of 25 miles in 1553AD. During the 18th century, passengers and goods were transported by boats and small ships through the rivers. Steamships were first introduced in India in 1826 AD between India and England. The first telegraph line from Calcutta to Agra a distance of 800 miles was opened in 1854 AD.

System of Lord revenue of the company

The greatest achievement of Lord Cornwallis was the introduction of the permanent settlement in Bengal.

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