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The Indian Economy

India was a direct colony of the British and the impact of this colonial rule over the economy and society of India has been immense. It must be stated at the outset that direct colonial rule leaves a total impact on the colonized society because every aspect of social life is influenced by colonial policies of the colonizers. A direct colony (as was the case with India) is under the complete control of the colonizers and colonial policies and interests influence every aspect of social life of a colony. Another important fact about India is that the colonial rule lasted for a very long time and this longevity of colonial rule over India affected the vitals of the Indian society.

India in the pre-colonial period had a stable economy. Self-sufficient agriculture, flourishing trade and rich handicraft industries. Subsistence farmers, organized in small village communities carried on agricultural operations in India. "Landlords were not landowners; they only had the right or privilege to collect taxes from the peasantsaE...

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The Indian Economy. (1969, December 31). In Retrieved 13:54, July 29, 2015, from