The drain theory as fokrmulated by the nationalists, referred to the processed by which a significant part of India's national wealth was being exported to England for which India got no economic returns.
External drain was only one element of British exloitation of India, linked with other sources of exploitation like heavy taxation and an unfavourable trade. The British benefited immensely from the plunder and exploitation of India.
The Company obtained Dewani or civil administration rights of Bengal, Bihar and Orissa in 1765 and this opened new opportunities for plunder by the Company. This monopoly of plunder and exploitation by the Company continued till the end of eighteenth century when England moved from mercantile capitalism to industrial revolution and the emerging industrial capitalists in Britain started demanding the end of Company rule in India.
External drain was only one element of British exloitation of India, linked with other sources of exploitation like heavy taxation and an unfavourable trade. The British benefited immensely from the plunder and exploitation of India.
The Company obtained Dewani or civil administration rights of Bengal, Bihar and Orissa in 1765 and this opened new opportunities for plunder by the Company. This monopoly of plunder and exploitation by the Company continued till the end of eighteenth century when England moved from mercantile capitalism to industrial revolution and the emerging industrial capitalists in Britain started demanding the end of Company rule in India.
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