Drain of Wealth

Drain of Wealth: Whatever was accumulated by the British in India throughout their stay was transported to their mother country, this type of exploitation is popularly known as 'drain of wealth'. This was in the shape of home remittances, gifts, gratitude’s etc. If this was spent in India, it would have immensely beneficed the Indian masses. The exchange policy monetized the Indian economy and facilitated easy transaction for the British financiers. lt undermined the peasants' natural economy and destroyed the traditional economic ties. Its Indus- trial policy aimed at crushing the growth of modern industries in India. However, despite the hostility of the British, modest beginnings were made in this sphere. The infant capitalist class had to wage a constant struggle against British to survive.During the various stages of colonialism, the only motive behind the British policies was to plunder as much as they could, to which Karl Marx referred as a bleeding process with a vengeance. Not even a single aspect of Indian economy went untouched nor left unexploited. Thus, its agriculture became commercial; rural indebtedness grew by leaps and bounds; the - world- famous handicrafts industry was destroyed; following the ruin of artisans and craftsmen, agricultural labour swelled; the country's richness was drained; the infant Indian industry was strapped; the rise of capitalist class curbed and famine- conditions were aggravated putting millions to death.