Oxfam International released a report titled “Takers Not Makers” which revealed that Britain extracted huge wealth from India during colonial rule. It states that the wealth of billionaires is increasing rapidly, while the poor are facing continuous difficulties. The role of historical colonialism is cited as the main reason behind this inequality.
Key points of Takers Not Makers report
- Expulsion of wealth from India: About 64.82 trillion US dollars were taken out of India to Britain between 1765 and 1900. According to the average income distribution during this period, 17.4 trillion dollars went to the top 1% of Britain’s richest. 33.8 trillion dollars were received by the top 10% of the richest.
- Beneficiaries of colonialism: 52% of the total wealth extracted went to the richest class. The emerging middle class received 32% of the income.
- Decline in industrial output: In 1750 the Indian subcontinent contributed 25% of global industrial output. By 1900 it had fallen to just 2%.
- Modern comparison: Reports show that wages in the Global South (developing countries) are 87-95% lower than those in the Global North (developed countries), even when work skills are the same.
Oxfam
- Oxfam was founded in 1995 by a group of independent non-governmental organisations.
- Its name is derived from the “Oxford Committee for Famine Relief”, which was founded in Britain in 1942.
- Headquarters: Oxfam International Secretariat is based in Nairobi, Kenya.
- Structure: It is a federation of 21 independent charity organisations, working with partners and local communities in over 90 countries.
- Objective: To share knowledge and resources and unite efforts in the fight against poverty and injustice.
Social and Cultural Impact of Colonial Rule in India
- Social Reforms: The British Raj declared the practice of Sati (self-immolation of a widow on her husband’s funeral pyre) illegal and punishable.
- Infanticide (female infanticide) was banned, although the problem still exists in poor areas.Child marriage and other social evils were declared illegal by law.
- Spread of Western Ideology: Concepts such as freedom, equality, and human rights came into Indian society during British rule.Various legal measures were implemented to improve the status of women.
- Education and Language: The British promoted the English language in Indian society, increasing its influence in education and administration.
Economic Impact of Colonial Rule in India
- Economic Colony: India was made an economic colony of industrial England, which had a profound impact on the local economy.
- Effect of industrialization: Industrialization of England destroyed the Indian handloom industry and traditional artisans became unemployed.
- Agrarian crisis: New land revenue experiments worsened the condition of the peasants and they were drowned in debt. Commercialization of agriculture increased the number of landless labourers and increased economic inequality.
- Growing influence of moneylenders: Borrowing money became difficult and new types of moneylenders developed, who exploited the peasants and the poor.