The British looted so much money during their rule in India that the city of London could be carpeted with 50 pound notes four times. The British had looted as much money from India within 135 years as the present economy of the top 10 countries of the world combined. Most of this money went to Britain’s rich. The British squeezed India’s economy to such an extent that it collapsed by the year 1900. All these things have been told in a recent report. This report has been released by Oxfam.
Report It has been published under the name ‘Takers, not Makers’. In this report, it has been talked about what effect colonialism has had on poor countries in history and similar efforts in the present. Many shocking facts have been revealed in this report.
65 trillion dollars looted from India
According to the report, between the years 1765 and 1900, $64.82 trillion (approximately ₹5525 lakh crore) was withdrawn from India to England. In the same report, it was told that out of this $64.82 trillion, $33.8 trillion (about ₹ 2873 lakh crore) went to the richest 10% of the British at that time. These rich British got 52% of the wealth looted from India.
It was told in the report that this money is enough to spread 4 carpets of 50 pound notes in the city of London. The area of London is 1572 square kilometers. Apart from the rich, England’s newly formed middle class got 32% of the looted wealth. Their descendants are also enjoying this money.
In the same report, it is said that the British looted so much money from India that its share in the world industrial production (GIP) came down from 25% to 2%. According to the report, “In 1750, the Indian subcontinent accounted for about 25% of world GIP. However, by 1900 this figure dropped rapidly to just 2%.”
Looted money kept me a slave
To hide their plunder, the British have continuously spread the myth that they developed India during their rule. Supporters of the British Raj claim that they worked and invested on train lines, roads, health and education during their rule in India. But the truth of this has also been put forward in the Oxfam report.
According to this report, British rule could be established in India only with great military power. During the rule of the East India Company in India, military expenditure was about 75% of the total expenditure. It was reported in the report that only 3% was spent on public problems.
The report stated that East India Company officials failed to repair the irrigation system, which led to problems in farming. It was reported that due to all this there was famine in India and the problem became serious.
Oxfam’s report also states that when the enslaved countries gained independence, power was handed over to people who belonged to some elite class selected by them. The report also states that the British legalized the caste system and made it even more distorted.
