450 billion dollar robbery on India during British rule

The first voice against imperialism was Dadaji Noorobhai

Who was the first leader of India’s independence? If someone asks me, I will say that he was a Parsi Grandfather Nauruji who became the first President of the Indian National Congress in 1886.

His first voice against British colonialism was a book published in 1901 titled ‘Poverty and British Rule in India’.

In this book, it was stated that the Crown Britain was looting Indian capital and transferring it abroad, due to which India would become bankrupt.

An amount of 20 to 30 crore pounds is withdrawn from the Indian exchequer every year. In that period, the daily wages of an Indian laborer was two to three pence. As if one pound was equal to 50 days wages of a laborer. Navroji said that the expenses of the British Army all over the world are met from the Indian income. All railway revenue from India is brought to Britain and Indian nationals have no right to it.

Dadabhai Noroji’s voice of plundering Indian resources proved to be the first drop of rain on which the freedom movement of India arose.

Prior to this, Dadabhai Noroji had won the election on a Liberal Party ticket in the 1892 general elections. He became the first Indian to be elected as a member of the British Parliament.

When Quaid-e-Azam was studying in London, Dadbhai Noroji’s election campaign was going on. Quaid-e-Azam was also influenced by his ideas and became a part of his election campaign and later when Noroji won, Quaid-e-Azam also became his secretary for some time. The Quaid-e-Azam’s involvement in the Congress was also due to the help of grandfather Noroji.

British left India poor

The theory of Dadabhai Nauruji was published by Indian politician Shashi Tharoor in his book ‘An Era of Darkness’ published in 2016.

In it, Shashi Tharu wrote that ‘British economic historian Angus Maddison notes that India’s share of the world economy in the early eighteenth century was 23%. This was as large a share as the whole of Europe has in the world economy today.

In 1700, Mughal Emperor Aurangzeb’s treasury had revenue of 10 crores, which was 27% of the world economy. But when Britain left India, India’s share in the world economy was only three percent.

‘The reason was the common understanding that India was ruled for British interests. Britain’s 200-year rise was fueled by its Indian plunder.’

Shashi Tharoor’s book describes in detail the looting of the British Crown, how four thousand silk shops were closed in Srinagar, how the khadis of Bengal whose woven fabric was proudly worn by world leaders were closed.

How India’s Shipping Industry Was Destroyed The contents of Shashi Tharoor’s book were still fresh when another Indian economist, Utsa Patnaik, surprised by giving new information in 2018.

Utsa Patnaik, a PhD from Oxford, retired in 2010 as a professor of economics at Jawaharlal Nehru University.

He says that Indians generally think that only the Koh Noor diamond was stolen by the British, whereas in reality, the Koh Noor diamond is a symbol and the way in which the British have cleaned their hands of India’s resources is not based on these assumptions. is more than those established earlier.

India’s money was developed by Britain

Utsa Patnaik says that during its bicentennial rule, between 1765 and 1938, Britain transferred 92 trillion (9.2 trillion: a trillion is ten trillion) pounds worth of money out of India worth 446 trillion (4.46 billion dollars) in dollars. Trillions) of dollars.

Because in the British era, one pound was equal to 4.8 dollars. If this amount is estimated in today’s terms, the UK’s GDP in 2021 will be $2.86 trillion annually. Even today this amount is 155 times more than the total annual output of Great Britain.

All Indian export money went to London and then this money was given back to India at five percent interest. If all this money that was taken out of India was spent here, India would have been a developed country.

It is also surprising that India’s per capita income did not increase between 1900 and 1946 even though by 1929 India was the second largest exporter in the world.

While all this money was being sent from India to Britain, a common Indian citizen was dying of malnutrition.

India, which was called the food basket of the world, had become difficult for people to eat enough due to high taxes. In 1900, a typical Indian consumed an average of 200 kg of food per year, which decreased to 157 kg during World War II, which continued to decline and further decreased to 137 kg in 1946.

The average age in India in 1911 was just 22 years. When the famine of 1770 occurred in Bengal, the British themselves said that one crore out of a population of three crores died of hunger.

The plight of India in 1946 is unparalleled in today’s world.

Systematic system of capital outflow

When the East India Company acquired the powers of tax collection in Bengal in 1765, it named the district administrator as the collector, whose aim was to achieve the targets of the taxes at all costs and for this purpose he used to go beyond all limits of cruelty. Even earlier Nawabs were not so oppressive in collecting taxes, due to which the poor became poorer.

A third of the tax collected by the East India Company was collected from the peasants in the form of commodities and exported to Britain, which means that Britain also got these commodities for free from where they were in excess of their needs. The commodity used to be exported to other countries.

The money earned from these exports was used by Britain to pay its import bills. In fact, it was this money that brought about the Industrial Revolution in Britain. When power passed from the East India Company to the Crown of Great Britain in 1858, the system changed so much that the authority to export was given to the natives, but with the condition that all payments be made through London.

The procedure was that anyone who wanted to buy something from India needed council papers for payments. It was a separate type of paper currency that was authorized to issue by the British monarch.

To obtain this currency, it was necessary to buy it from London in exchange for gold or silver. Due to which traders used to buy these currencies in exchange for gold and silver in London and then they gave these currencies to Indian exporters.

When Indian exporters cashed these bills at the colonial office, they were paid in local currency. All the money in this colonial office came from the taxes of the Indians.

It was a systematic fraud of capital outflow from India due to which India became poorer than poorer.

The blood of poor countries in the foundations of rich countries

According to Patnaik, Britain did not develop India, but it was India that developed Britain.

The foundations of modern world empires stand on the money of their neo-demographics. This money was stolen from poor countries.

Between 1780 and 1820, when the Industrial Revolution took place in Britain, the money that Britain took out of India and the West Indies was six percent of Britain’s GDP.

With this money, Britain laid roads and railway lines in America and Europe. Even if Britain had to fight somewhere, its expenses were met from the Indian budget.

How much is 450 trillion dollars today?

If we want to know how much capital Britain absorbed from India in 200 years and how much it is worth in today’s market, you might be surprised to know that according to Forbes magazine if you buy entire houses in America Take, its price is 362 trillion dollars and if you look at it in GDP, then the largest economies of the world, USA 205 trillion and China 136 trillion dollars are combined, it becomes 341 trillion dollars.

India’s GDP is still 26 trillion dollars, Pakistan’s GDP is 263 billion dollars, while Bangladesh’s is 324 billion dollars. Makes billions of dollars. Whereas today, if you want to buy houses in the whole of Great Britain, the total value is 92 billion pounds, which is about 120 billion dollars.