The Company Effect: Indian Economics

First flag of the Honourable East India Company
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It was a time of civil unrest, a collection of famine and constant war: the nation of India was no longer able to claim its borders as its own. It was instead defined to British rule, overwhelmed by the arrival of uncompromising soldiers and their dangerous financial strategies. The nation was overwhelmed, its natural resources stripped away, its populace burdened by too heavy taxation. The decades crawled by, with each day revealing new concerns. Villages were lost; the masses were decimated; and an entire trade history was rewritten to accommodate those who had no understanding of it – only a desire to force it to support their needs.

The country tumbled to near oblivion, unable to sustain these demands; and, when a century had finally passed and yielded change (the return of India to its own people with the rebellion of 1857), there seemed no chance for resurrecting hope or the economy. Both were deemed shattered. The effects of colonization had taken a drastic toll on all – and there was a certainty that this would forever remain.

It almost did.

The nation suffered throughout the ninetieth and twentieth centuries. Its infrastructure had been almost irrevocably damaged by the strain of the British invasion. With the arrival of the East India Company (a gathering of supposed economists, who snatched all gold and silver for England), there was a devastating change within trade and local markets. Money became an almost forgotten resource; and the impact was felt throughout the years.

It was not until the declaration of a free market in 1991 that this impact was finally lessened. With the reinvention of India (led by then Prime Minister Narasimha Rao), there were sparks of life among a once dying country. Exporting increased; imports were freed from their restraints; and government reforms helped to generate revenue. The colonial effect was still recognized but was able to be tamed.

And, as of 2010, it has almost been conquered.

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