Commercial Policies of British

The changing pattern of Britain’s position in world economy led to changes in nature of British colonialism. Example: Industrial Revolution in Britain impacted colonial practices in India. Initially from 1600-1757, EIC acted as a Trading Corporation and had monopoly of trade in India. They brought precious metals like Gold and Silver and exchanged them with cotton textiles and spices. But post 1757, its economic policies underwent following changes:

Phase 1: Period of Merchant Capital or Mercantilism (1757-1813)

• Their objectives were to establish monopoly of trade with India against other European or English merchants and to control revenues of ....