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Q52 (CDS-II/2010) History & Culture › Modern India (Pre-1857) › Colonial economic impact Answer Verified

Prior to 1813, which among the following measures, was not adopted by the British to exploit the Indians economically ?

Result
Your answer: —  Â·  Correct: C
Explanation

Prior to 1813, the British economic policy in India was characterized by the East India Company's mercantilist monopoly. During this 'Merchant Capital' stage (1757–1813), the Company focused on monopolizing trade, eliminating Indian and European rivals, and controlling revenues [t6]. They exploited Indian craftsmen by forcing them to produce fixed quantities of goods at prices below market rates [t3][t6]. The Company also monopolized the trade of raw materials to sell them at high rates [t1][t6]. However, a 'Free Trade' policy was not adopted during this period; instead, it was the primary demand of the rising British industrial class who opposed the Company's monopoly [c1][c2]. The transition to a 'one-way free trade' policy only occurred after the Charter Act of 1813, which abolished the Company's monopoly on Indian trade (except for tea and trade with China) [c3][c4][t6].

Sources

  1. [1] https://nios.ac.in/media/documents/secsocscicour/english/lesson-05.pdf
  2. [2] Modern India ,Bipin Chandra, History class XII (NCERT 1982 ed.)[Old NCERT] > Chapter 5: The Structure of the Government and the Economic Policies of the British Empire in India, 1757—1857 > British Economic Policies in India, 1757-1857 > p. 96
  3. [3] Rajiv Ahir. A Brief History of Modern India (2019 ed.). SPECTRUM. > Chapter 28: Economic Impact of British Rule in India > Second Stage > p. 554
  4. [4] Rajiv Ahir. A Brief History of Modern India (2019 ed.). SPECTRUM. > Chapter 28: Economic Impact of British Rule in India > One-Way Free Trade > p. 541
  5. [5] Rajiv Ahir. A Brief History of Modern India (2019 ed.). SPECTRUM. > Chapter 26: Constitutional, Administrative and Judicial Developments > The Charter Act of 1813 > p. 505
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SIMILAR QUESTIONS

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