Economic Conditions in 18th Century India

 Economic Conditions in 18^th Century India

The process of British Conquest of India began from Bengal. The Battle of Plassey was fought in the year 1757. The belligerents were the forces of Siraj-u-Daula, the then Nawab of Bengal and the British army under the control of Robert Clive.

The Battle of Plassey decided the political fate of Bengal in particular and India in general. After this battle Bengal went under the control of British East India Company’s rule and subsequently the Company captured many more areas in different parts of India.

The British introduced many new economic policies and changes in India throughout their rule. The British economic policies resulted into economic exploitation of India

As far as the economic conditions in 18^th Century India were concerned Indian economy was mostly self-sufficient. The salient feature of Indian Village economy was that majority of the goods and services needed by the people were available within village. There used to be various artisans who used to produce different goods required by the villagers. For example there were people who used to make cloth, oil, furniture, pots, iron goods, jewellery, grow flowers and vegetables, catch fish, make footwear, etc. The farmers used to produce the food stuffs needed by the villagers. In this way the village economy was not only self-sufficient but the cottage industry was highly developed.

The villagers used to pay the land revenue to government machinery. Various parts India were ruled by different kings or dynasties. Even though there were political upheavals and change in dynasties the economic and social fabric of the country was not disturbed generally.

India was known for its textile during those times. Cotton, silk and satin fabrics and clothes made from it were having huge demand even in the West. Important centers of cotton goods were Ahmedabad, Masulipatnam and Dhaka. Ahmedabad is an important city in Gujarat. Masulipatnam is located on the eastern coast of India in present day Andhra Pradesh. Dhaka is a capital of Bangladesh. In earlier times Bangladesh was part of India. During Mughal period it was part of Bengal province. Actually, at the time of independence of India from British rule on 15^th August 1947 present day Bangladesh decided to join Pakistan and became East Pakistan. In 1971 Bangladesh Liberation War was fought in which India played decisive role. India helped East Pakistan to win its most coveted freedom from the clutches of West Pakistan and emerge as an independent and sovereign country called as Bangladesh.

Cities and places like Agra, Lahore and Gujarat, etc. were famous for the making of silk. Silk cloths were and still popular, especially among the well to do people.

Historically Kashmir is known for its woolen products. Kashmir is a cold region and it seen that people in cool and mountainous areas are involved in sheep herding and rearing. They consume the meat of sheep and drink its milk. And they use the wool of the sheep to make products like blankets, cloths, etc. Apart from Kashmir other places like Agra and Lahore were known for their carpets as well.

Yet another feature of the Indian economy before the arrival of the British was that metallurgy was highly developed in India. Blacksmiths and Goldsmiths used to work on the metals like iron and gold respectively. Blacksmiths used to make instruments like axes, iron plough, sickles, etc. for the use of villagers and farmers. Goldsmiths used to make gold ornaments and jewellery.

There used to be rich moneylenders who used to lend money to traders and common people. There were some moneylenders from whom even the royal families used to borrow money. For example Jagat Seth was an important banker to Mughal princes and royal families of Bengal. Shantidas Jhaveri was yet another banker from Ahmedabad who used to lend money to Mughals during 16^th and 17^th centuries.

The arrival of the British rule in India from 17^th century onwards witnessed lots of economic changes in our country. Even the beginning of modern industrialisation in India had its own impact on Indian economy. It would not be an exaggeration to say that British policy resulted into degeneration and destruction of Indian cottage industry.