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The Hindu EquilibriumIndia c.1500 B.C. - 2000 A.D.$
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Deepak Lal

Print publication date: 2004

Print ISBN-13: 9780199275793

Published to Oxford Scholarship Online: September 2008

DOI: 10.1093/acprof:oso/9780199275793.001.0001

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The Economy under the Raj, III: Trade and Industry

The Economy under the Raj, III: Trade and Industry

(p.199) 8 The Economy under the Raj, III: Trade and Industry
The Hindu Equilibrium

Deepak Lal (Contributor Webpage)

Oxford University Press

This chapter begins with an examination of why the commercialization of agriculture and the integration of the Indian economy into the world economy did not lead to a greater spurt in the development of cash crop agriculture and exports in India as compared with other colonial tropical countries. It then considers the record of Indian industry under the Raj. It discusses the damage done by the policy of protection — from the 1920s onwards — to the prospects of growth of Indian manufactured exports, and the exchange rate policy followed by the Raj.

Keywords:   tropical exports, industrial development, fiscal policy, monetary policy, British rule, colonial rule

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