5 years ago
3
How Britain stole $45 trillion from India
There is a story that is commonly told in Britain that the colonisation of India - as horrible as it may have been - was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain. So the fact that the empire was sustained for so long - the story goes - was a gesture of Britain's benevolence.
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I'm born in the Netherlands and now live in Belgium, both countries wouldn't be even close to what they are now if it wasn't for their respective colonies.
King Leopold's ghost!
The East India Company was a private sector entity, separate from the monarchy. In 1803, at the height of its rule in India, the East India company had Indian revenues of £13,464,561, and expenses of £14,017,473. Company rule in India effectively began in 1757 and lasted until 1858, when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown's assuming direct control of the Indian subcontinent in the form of the new British Raj.