Skip to content
Search

Latest Stories

Report claims colonial Britain drained India of £52.7 trillion

India-Britain-iStock

The report highlights that in 1750, India accounted for 25 per cent of global industrial output, which declined to 2 per cent by 1900 due to British protectionist policies targeting Indian textiles. (Representational image: iStock)

A REPORT by Oxfam International claims that between 1765 and 1900, £52.7 trillion was transferred from India to Britain during colonial rule.

Released during the World Economic Forum in Davos, the report, Takers Not Makers: The unjust poverty and unearned wealth of colonialism, asserts that the British Empire stifled India’s industrial growth and left the nation impoverished.


The report highlights that in 1750, India accounted for 25 per cent of global industrial output, which declined to 2 per cent by 1900 due to British protectionist policies targeting Indian textiles.

Oxfam attributed this decline to colonial economic exploitation, calling for reparations and a shift to a more equitable global economic system.

The £52.7 tn figure is credited to Indian economists Utsa Patnaik and Prabhat Patnaik. Their earlier estimate of £36.6 tn covered the period from 1765 to 1938, while the updated figure aligns with more recent analyses, reported The Times.

The report also connects historical wealth extraction to modern global inequality, suggesting that colonial exploitation laid the foundation for the current wealth of many billionaires.

The call for reparations echoes similar appeals, including those by Congress Party politician Shashi Tharoor, who argued in his 2016 book, An Era of Darkness, that Britain owes reparations for the systematic exploitation of India.

The legacy of colonialism continues to evoke strong reactions. At a recent Coldplay concert in Mumbai, lead singer Chris Martin thanked the Indian audience for their forgiveness despite Britain’s colonial past, drawing applause and renewed discussions on the subject.

More For You

Man found guilty of rape and murder of Irish backpacker in India

McLaughlin, 28, from County Donegal, was found dead in a field in Goa in March 2017. (Photo credit: Twitter)

Man found guilty of rape and murder of Irish backpacker in India

A COURT in India has found Vikat Bhagat guilty of the rape and murder of Irish backpacker Danielle McLaughlin.

McLaughlin, 28, from County Donegal, was found dead in a field in Goa in March 2017.

Keep ReadingShow less
Alderman Alastair King

King, who serves as the global ambassador for the City of London, will be in Mumbai to discuss trade and investment under his mayoral theme, 'Growth Unleashed.'

Lord Mayor of London to visit India for trade talks

THE LORD MAYOR of London, Alderman Alastair King, is set to visit India for a week starting Saturday, aiming to promote free trade and capital flows between the two countries.

King, who serves as the global ambassador for the City of London, will be in Mumbai to discuss trade and investment under his mayoral theme, “Growth Unleashed.”

Keep ReadingShow less
trump-modi-washington-getty

The meeting came hours after Trump criticised India’s business environment and announced plans for reciprocal tariffs on countries that impose duties on US imports. (Photo: Getty Images)

Modi and Trump agree to resolve trade disputes, discuss tariff concerns

INDIA and the US have agreed to begin negotiations aimed at resolving trade and tariff disputes, following talks between Indian prime minister Narendra Modi and US president Donald Trump in Washington.

India has committed to increasing purchases of US oil, gas, and defence equipment, while both sides pledged to address trade barriers.

Keep ReadingShow less
Pablo-Escobar-merchandise-Getty

Escobar, killed by security forces in 1993, remains a figure of global interest, with his image appearing on souvenirs like T-shirts, mugs, and keychains. (Photo: Getty Images)

Colombia considers ban on Pablo Escobar merchandise

COLOMBIA’s Congress is considering a bill that would ban the sale of merchandise featuring drug lord Pablo Escobar and other convicted criminals.

The proposed law aims to curb the glorification of Escobar, who was responsible for thousands of deaths during his time leading the Medellín cartel, reported BBC.

Keep ReadingShow less
Assisted dying bill: Judge approval scrapped for expert panel safeguard

Polls show most Britons back assisted dying, with supporters calling for the law to reflect public opinion.

Assisted dying bill: Judge approval scrapped for expert panel safeguard

Eastern Eye

THE proposed new assisted dying law for terminally ill people will be amended to remove the requirement that a high court judge sign off on each case, Labour MP Kim Leadbeater said on Tuesday (11).

Opponents of assisted dying said the change would weaken the safeguards around protecting vulnerable people from being coerced or pressured into taking their own lives.

Keep ReadingShow less