Economy in India

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Why were the British (East India Company) originally based in India?
Trade interests - the EIC was granted monopoly of trade in India in the 17th century
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Why have an empire?
it provided easy colonial markets for goods manufactured in Britain to the benefit of home economy
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In 1913 how much (£) of manufactured textiles was exported to India?
£40,729,000
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In 1929 how much (£) of tea was imported to be sold on British market?
£20,083,000
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How much did Indian revenues contribute to the allied war effort in WWI?
£146,000,000
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What was the effect of WWI on Indian nationalism?
ordinary Indians felt the strains of inflation, repayment called to benefit India as a whole, a factor in the 1919 Gov. of India Act
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What happened to exports in the interwar period?
they were rapidly becoming less beneficial
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How much did Britain make in exports to India between 1928-9?
£83,000,000
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How much did Britain make in exports to India between 1935-6?
£39,000,000
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What was the debt of the Raj post WWII?
£2,730,000,000
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In 1900 how much of Britain's overseas investment went to India?
1/10
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How did the British people benefit from India?
it provided direct employment for the British people living there, but also for the British working in factories, it paid for the pensions for members of the ICS
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Why were railways built in India?
to support trade and link the important cities that the British worked in
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What type of raw materials did India supply Britain with?
jute, raw cotton, rice, tea, oil-seed, wheat and hides
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How were tariffs used to help the British economy?
tariffs on British produced goods was around 3.5% to 0%, this made British goods cheaper to buy than domestic goods and in the the example of the cotton industry Britain had nearly achieved monopoly of trade
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How can it be argued statistically that Britain were in India for the good of the people?
irrigated land increased by a factor of 8, life expectancy increased by 11 years and a coal industry was created
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What happened when Indian politicians came into power following the 1935 Gov. of India Act?
more investment in education and public health
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What effect did the wars have on Indian industry?
Britain had to rely on goods manufactured in India, it virtually created the industry which in turn resulted in Indian capitalists investing in their own country
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In 1931 the Reserve Bank of India was created, what did it do?
Set the value of Indias own currency
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Other cards in this set

Card 2

Front

Why have an empire?

Back

it provided easy colonial markets for goods manufactured in Britain to the benefit of home economy

Card 3

Front

In 1913 how much (£) of manufactured textiles was exported to India?

Back

Preview of the front of card 3

Card 4

Front

In 1929 how much (£) of tea was imported to be sold on British market?

Back

Preview of the front of card 4

Card 5

Front

How much did Indian revenues contribute to the allied war effort in WWI?

Back

Preview of the front of card 5
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