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Drain of Wealth: Dadabhai Naraoji

Dadabhai Naoroji was an Indian scholar and politician in the 19th century who was the first Asian to be elected to British Parliament. He played a key role in establishing the Indian National Congress. Naoroji developed the "drain of wealth" theory, which argued that British colonial rule in India was impoverishing the country by draining its wealth and resources. He identified six factors that caused this external drain, including Britain using India's resources to fund its own administration, military, and infrastructure projects while Indian workers sent their wages back to Britain. Naoroji's ideas had a significant impact and helped establish the framework for India's nationalist movement against British colonial rule.

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253 views

Drain of Wealth: Dadabhai Naraoji

Dadabhai Naoroji was an Indian scholar and politician in the 19th century who was the first Asian to be elected to British Parliament. He played a key role in establishing the Indian National Congress. Naoroji developed the "drain of wealth" theory, which argued that British colonial rule in India was impoverishing the country by draining its wealth and resources. He identified six factors that caused this external drain, including Britain using India's resources to fund its own administration, military, and infrastructure projects while Indian workers sent their wages back to Britain. Naoroji's ideas had a significant impact and helped establish the framework for India's nationalist movement against British colonial rule.

Uploaded by

AAKANKSHA BHATIA
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DRAIN OF WEALTH

DADABHAI NARAOJI

First Asian to be a British MP and the primary Indian to end up noticeably a Professor at
Elphinstone Institution in 1850. The 'Stupendous Old Man of India' and the 'Father of Indian
Nationalism' are the designations to clarify the identity of this extraordinary man who was a
teacher, cotton broker and social pioneer. He is none other than Dadabhai Naoroji, who was
conceived on fourth September 1825 at Khadak in Mumbai.

He was a Member of Parliament (MP) in the United Kingdom House of Commons in the vicinity
of 1892 and 1895. Dadabhai Naoroji assumed a critical part in establishing the Indian National
Congress alongside two different acclaimed government officials of that time i.e. A.O. Hume
and Dinshaw Edulji Wacha. Dadabhai Naoroji's idea of riches deplete from India amid British
administer got immense consideration. He said a similar idea in his book Poverty and Un-British
Rule in India.

Dadabhai Naoroji was the primary man to state that inside variables were not the reasons of
destitution in India but rather neediness was caused by the frontier decide that was depleting the
riches and thriving of India. In 1867, Dadabhai Naoroji set forward the 'deplete of riches'
hypothesis in which he expressed that the Britain was totally depleting India. He specified this
hypothesis in his book Poverty and Un-British Rule in India. Encourage in his book, he
expressed the loss of 200-300 million pounds of income to Britain. Dadabhai Naoroji considered
it as a noteworthy underhandedness of British in India. On the strides of Dadabhai Naoroji, R. C.
Dutt likewise advanced an indistinguishable hypothesis by keeping it from a noteworthy subject
of his book Economic History in India. The deplete of riches was the part of India's riches and
economy that was not accessible to Indians for utilization.

Dadabhai Naoroji gave six factors that caused outside deplete. These are:

 Outside run and organization in India.


 Finances and work required for monetary advancement was gotten by outsiders yet India
did not draw migrants.
 All the common organization and armed force costs of Britain were paid by India.
 India was bearing the weight of an area building both inside and outside India.
 India was additionally misused by opening the nation to facilitated commerce.
 Real workers in India amid British administer were nonnatives. The cash they earned was
never put resources into India to purchase anything. Besides they cleared out India with
that cash.
ECONOMIC IMPACT OF BRITISHERS ON:

AGRICULTURE:

Despite the fact that commercialization of horticulture helped in creating attractive


excess, it profited just couple of agriculturists and business intrigue. Or maybe, for
greater part of agriculturists it made the issue of starvations by devastating the
independence with respect to towns. Issue of sustenance deficiency was felt. This
presented a component of precariousness in farming. There was a tremendous
development in agrarian obligation because of essence of Mahalwari, Ryotwari, and
Permanent Settlement Systems for Land income gathering.

INDUSTRIES:

Hack sided example of mechanical advancement happened. This impact was reflected in
example of modern business and grouping of enterprises in couple of urban areas and
towns, and was caused essentially by provincial character of our nation. The creation of
mechanical yield demonstrated the predominance of shopper products over makers and
capital merchandise. Decrease of town crafted works and moderate development of
present day ventures influenced the farming segment of economy.

TAXATION SYSTEM:

Frontier run acquired a noteworthy change the tax assessment condition from income
expenses to property charges bringing about mass impoverishment and dejection of the
colossal lion's share of agriculturists. It additionally made an institutional situation that,
on paper, ensured property rights among the colonizers, empowered unhindered
commerce, and made a solitary cash with settled trade rates, institutionalized weights and
measures, capital markets, a very much created arrangement of railroads and broadcasts,
a common administration that meant to be free from political obstruction, and a
precedent-based law, antagonistic legitimate framework.

TRADE:

In the trade sector India was turned into a market for British manufactured goods
and supplier of raw materials to Britain, due to unequal tariff policy, biased stores
policy, etc.
This, as well as through various administrations, for example, railroads, India was giving
a tremendous add up to Britain. Then again, exchange and in addition Indian work was
profoundly underestimated. Alongside this, the East India Company was purchasing
items from India with Indian cash and sending out it to Britain.

Dadabhai Naoroji was regarded both in Britain and in addition India for his reliability
towards British and administrations for Indians. Hence, he was chosen as the President of
the Indian National Congress, not on more than one occasion but rather for three times
i.e. in 1886, 1893 and 1906.

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