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The study of India’s economic history during the colonial period has been approached through multiple historiographical lenses, reflecting varied ideological, methodological, and interpretative frameworks. Each historiographical school has contributed to a nuanced understanding of the nature, extent, and impact of British colonial rule on the Indian economy. The major historiographical approaches include the nationalist, imperialist, Marxist, Cambridge, subaltern, and global economic history perspectives. The nationalist school was among the earliest to offer a systematic critique of British economic policies in India. Prominent Indian nationalist thinkers such as Dadabhai Naoroji, R.C. Dutt, G.V. Joshi, and M.G. Ranade argued that British rule resulted in the deindustrialization of India, destruction of indigenous industries, rural impoverishment, and economic drain. Naoroji’s concept of the "Drain of Wealth" theory, articulated in his writings like *Poverty and Un-British Rule in India*, claimed that a substantial portion of India’s wealth was transferred to Britain through exploitative practices such as excessive taxation, salaries paid to British officials, and profits remitted by British companies. R.C. Dutt’s *Economic History of India* in two volumes (1901 and 1903) documented the adverse economic effects of land revenue policies, famines, and commercialization of agriculture. Nationalist historiography placed the blame squarely on the exploitative and extractive nature of British colonialism and argued for economic self-reliance and indigenous industrial development as a pathway to national regeneration. In contrast, the imperialist school of historiography, which emerged largely from British scholars and administrators, provided a justification for colonialism by highlighting the supposed benefits of British rule in India. Writers like William Digby, John Strachey, and later, Morris D. Morris and John H. Clapham, argued that colonialism introduced modern institutions, infrastructure, legal systems, and free-market principles that fostered economic development in India. These historians suggested that India lacked the necessary institutional and technological preconditions for modern economic ___ ______ _________ ___ ____ __________ __________ __________ _____ ____.
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