Indian political economy and the early British industrial revolution: A fresh look for 1753-1794

Abstract

This article examines the relationship between the dynamics of Indian political economy and the British Industrial Revolution over the period 1753-94. During this period, the Industrial Revolution was taking place slowly and gradually. During 1700-60, GDP from industry increased by 0.7 per cent per year, while during 1760-80 it increased by 1.3 per cent per annum. For 1780-1801, this rate jumped to 2 per cent per year.’ At the same time, England was getting increasingly involved with the politics and the economics of the Indian subcontinent through the East India Company. Since the middle of the century, the Company’s political involve-