Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value

[beijingwalker]

Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value​

India’s External Affairs Minister S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value

FP StaffSeptember 12, 2022 18:31:59 IST

Queen Elizabeth II. PTI

New Delhi: The world, at least most of it with some exceptions, mourns the passing of Queen Elizabeth II of the UK, it has once more brought to the fore the scars of British colonialism and the concomitant organized loot of scores of nations that were pushed decades and centuries back in mankind’s long march to freedom and prosperity.

India’s case is most peculiar: Great Britain became so only as it lorded and looted India to the death and detriment of millions. Even British industrialization was, but an outcome of their clutches over India.
Several estimates have been drawn as to quantify the amount of this loot—not considering the opportunity cost for India and Indians—and the consensus is $45 trillion.

India’s External Affairs Minister (EAM) S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value.

“India had two centuries of humiliation by the West in its predatory form it came to India in the mid-18th century. An economic study tried to estimate how much British took out of India, it ended up at a number of $45 trillion in today’s value,” Jaishankar had said while delivering an address at think tank Atlantic Council in Washington DC.

Noted economist Utsa Patnaik tried to explain this figure in an interview with the Mint. “Over roughly 200 years, the East India Company and the British Raj siphoned at least £9.2 trillion (or $44.6 trillion; since the exchange rate was $4.8 per pound sterling during much of the colonial period).”

“Between 1765 and 1938, the drain amounted to £9.2 trillion (equal to $45 trillion), taking India’s export surplus earnings as the measure, and compounding it at a 5% rate of interest. Indians were never credited with their own gold and forex earnings,” Patnaik said in the interview.

“There was virtually no increase in per capita income between 1900 and 1946, even though India registered the second largest export surplus earnings in the world for three decades before 1929,” she added.
Late Prof. Sabyasachi Bhattacharya has explained this loot in another way, exposing the juxtaposition of political-military power of the British with its economic needs. “…the evolution of the English East India Company from the Voyage system to factory system, from that to forts and eventually to the position of a territorial power helped in business; it was not just a fit of absent mindedness and an aberration from the proper task of merchants that led to the political hegemony of the Company that later became the British Empire. It was useful to have military power to back up coercion of the artisans, to bully local merchants and to eliminate other foreign merchants particularly the French and the Dutch,” Bhattacharya is quoted by IGNOU.

Considering the British GDP has hovered just under the $3 trillion mark in the past few years, at current monetary value the UK stole 15 times its current value from India.

Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value

India’s External Affairs Minister S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value

www.firstpost.com

 

[Goritoes]

Not just India, but Pakistan/BD and other of their colonies in Africa/S.America as well.

 

[Tom-tom]

Why India that and India this, do you know half of that wealth British stole from South Asia, came from Bangladesh.

 

[Genghis khan1]

seizure every international assets that belong to UK until reparations are fulfilled

 

[Tom-tom]

Why India that and India this, do you know half of that wealth British stole from South Asia, came from Bangladesh.

Some people may laugh but Bangladesh accounted for half of South Asia and mugals gdp.

 

[Ghazwa-e-Hind]

Some people may laugh but Bangladesh accounted for half of South Asia and mugals gdp.

Agree. Bengal was the richest region in sub-continent, then all the wealth was stolen in British imperial rule and many famines occurred after that. There are gruesome pictures available on the internet.

 

[Azadkashmir]

wat bhegairat our ppl are: screaming at britain like they give a toss, it is celebrated - rule Britannia. Instead execute your traitors, that will send louder stronger message to those who support them and introduce gold dinar. throw out imf if you can.

do you know why hitler is hated becuase he started to print money without central bank debt free currency. although at the beginnng federal reserve bank and british banks built up germany into super power and brought hitler to power but he went out of control.

 

[TNT]

The brits are thieves and looted many areas. The shameful thing is that Pakistan, india and BD are mourning the queen that looted them and enslaved them. This shows the ppl of this area are still dumb and stupid and loves being slaves. These ppl have no honor or sense of Independence.

 

[One_Nation]

Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value​

India’s External Affairs Minister S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value

FP StaffSeptember 12, 2022 18:31:59 IST

Queen Elizabeth II. PTI

New Delhi: The world, at least most of it with some exceptions, mourns the passing of Queen Elizabeth II of the UK, it has once more brought to the fore the scars of British colonialism and the concomitant organized loot of scores of nations that were pushed decades and centuries back in mankind’s long march to freedom and prosperity.

India’s case is most peculiar: Great Britain became so only as it lorded and looted India to the death and detriment of millions. Even British industrialization was, but an outcome of their clutches over India.
Several estimates have been drawn as to quantify the amount of this loot—not considering the opportunity cost for India and Indians—and the consensus is $45 trillion.

India’s External Affairs Minister (EAM) S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value.

“India had two centuries of humiliation by the West in its predatory form it came to India in the mid-18th century. An economic study tried to estimate how much British took out of India, it ended up at a number of $45 trillion in today’s value,” Jaishankar had said while delivering an address at think tank Atlantic Council in Washington DC.

Noted economist Utsa Patnaik tried to explain this figure in an interview with the Mint. “Over roughly 200 years, the East India Company and the British Raj siphoned at least £9.2 trillion (or $44.6 trillion; since the exchange rate was $4.8 per pound sterling during much of the colonial period).”

“Between 1765 and 1938, the drain amounted to £9.2 trillion (equal to $45 trillion), taking India’s export surplus earnings as the measure, and compounding it at a 5% rate of interest. Indians were never credited with their own gold and forex earnings,” Patnaik said in the interview.

“There was virtually no increase in per capita income between 1900 and 1946, even though India registered the second largest export surplus earnings in the world for three decades before 1929,” she added.
Late Prof. Sabyasachi Bhattacharya has explained this loot in another way, exposing the juxtaposition of political-military power of the British with its economic needs. “…the evolution of the English East India Company from the Voyage system to factory system, from that to forts and eventually to the position of a territorial power helped in business; it was not just a fit of absent mindedness and an aberration from the proper task of merchants that led to the political hegemony of the Company that later became the British Empire. It was useful to have military power to back up coercion of the artisans, to bully local merchants and to eliminate other foreign merchants particularly the French and the Dutch,” Bhattacharya is quoted by IGNOU.

Considering the British GDP has hovered just under the $3 trillion mark in the past few years, at current monetary value the UK stole 15 times its current value from India.

Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value

India’s External Affairs Minister S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value

www.firstpost.com

Some south asians whine a lot about British and many continue enjoying the privilege provided by them. Criticise Common Wealth and you will see die hard supporters emerge.

There is no point in criticising this loot and plunder if the victims acknowledge the right of the British on everything. They respect the Queen and everything the Brits stand for.
Many Indians are even proud of their British past.

 

[Asian.Century]

Go to court - and take the stolen money and looted assets by British back.

 

[etylo]

These BS looted lots of money and treasures from China too, not just from South Asian subcontinent. It's time for retribution.

 

[One_Nation]

These BS looted lots of money and treasures from China too, not just from South Asian subcontinent. It's time for retribution.

Before retribution people need to get sense of dignity to come out of slavery first. This is not happening in case of south asia.

 

[nahtanbob]

“There was virtually no increase in per capita income between 1900 and 1946, even though India registered the second largest export surplus earnings in the world for three decades before 1929,” she added.
Late Prof. Sabyasachi Bhattacharya has explained this loot in another way, exposing the juxtaposition of political-military power of the British with its economic needs. “…the evolution of the English East India Company from the Voyage system to factory system, from that to forts and eventually to the position of a territorial power helped in business; it was not just a fit of absent mindedness and an aberration from the proper task of merchants that led to the political hegemony of the Company that later became the British Empire. It was useful to have military power to back up coercion of the artisans, to bully local merchants and to eliminate other foreign merchants particularly the French and the Dutch,” Bhattacharya is quoted by IGNOU.

Considering the British GDP has hovered just under the $3 trillion mark in the past few years, at current monetary value the UK stole 15 times its current value from India.

Queen Elizabeth II: How much money Britain's inglorious empire stole from India—15 times UK’s current value

India’s External Affairs Minister S Jaishankar in 2019 quoted a study saying that British loot from India was close to $45 trillion in today’s monetary value

www.firstpost.com

Per captia income did not increase because the population went up 40%. British owed India billions in IOUs for World War 2 efforts. I am not sure Pakistan got any money here.

 

[etylo]

Before retribution people need to get sense of dignity to come out of slavery first. This is not happening in case of south asia.

Indian prime minister representing the gov of India at the time openly publicly praised the BS colonization of India in front of BS, saying that it was overall beneficial for India. Most Indians agreed with their PM becos no one in Indian really protested against his view on the BS colonization. How slavish are the Indians to their white BS masters knowing that the BS looted India the huge sum of $45 trillion and also many Indians were slaughtered by the BS during colonization ?

The Raj was beneficial: Manmohan - Times of India

Rest of World News: Manmohan's comments have surprised South Asia watchers in London.

timesofindia.indiatimes.com

 

[Drizzt]

Imagine how much Brahmans & upper castes have stolen from Indian majority native inhabitants OBC SC ST by subjugating under caste system ?
All the opportunities, wealth and talent, stolen over generations.
And, how much is still being stolen by these upper caste and their parties like BJP and Congress have stolen and are still stealing.
OBC SC ST are 800 million people are under disguised occupation, no representation in media, judiciary and bureaucracy. That too in a democracy.
British occupation was just 200 years, power has only switched hands from one colonizer to another.