Excerpt from The Trade Relations Between England and India: 1600 1896
For more than a hundred and fifty years the trade of the greater part of India with the rest of the world has been carried on to a large extent by British traders and regulated in accordance with a commercial policy determined by British rule.
Those who are familiar with Indian economic opinion will be aware that there exists a widespread belief among the Indian people that the industrial prosperity and development of the country has, at various stages of her history, suffered heavily as the result of the trade policy imposed upon her.
It is frequently alleged that India, before the days of British rule, possessed great and flourishing manufactures and that their downfall may be largely, if not wholly, traced to the selfish fiscal policy of the British Government.
The period during which this harmful action is thought to have been most prominent is that extending over the last decades of the 18th century and the first decades of the 19th century - the period that is commonly described as embracing the years of the Industrial Revolution in England.
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