INSIGHT UPSC QUIZ

GS History Modern India
Q.

R.C. Dutt identified three phases of British exploitation of India.Which of the following statements is/are correct about this?

1. In the phases which coincides with Industrial revolution in England, the East India Company enjoyed monopoly of trade with India.

2. The cotton industry was plundered mainly in Mercantile phase.

3. The export imports firms boomed in the Finance-Imperialism phase.

4. The Railway was developed in the Finance-Imperialism phase.

Select the correct answer using the code given below.

Explanation:
  1. In the phases which coincides with Industrial revolution in England, the East India Company ceased to have monopoly of trade.
  2. The cotton industry was plundered mainly in the phases which coincides with Industrial revolution in England. Colonial exploitation was carried on broadly through three phases. The first phase (1757-1813) of ‘mercantilism’ was one of direct plunder in which surplus Indian revenues were used to buy Indian finished goods to be exported to England. In the second phase (1813-1858) of free trade India was converted into a source of raw material and a market for British manufactured goods. The third phase (1858 onwards) was one of finance imperialism in which British capital controlled banks, foreign trading firms and managing agencies in India. This phased exploitation was carried out through a range of economic policies, primarily in the industrial and agricultural sectors of the colonial economy.

Thus, Option D is Correct.

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