The British Empire made India Poor
The British Empire transformed India from the world’s richest nation into a notoriously poor country. India was still an economic powerhouse under British rule, but it will fell far behind competitors.
In 1700, India, then ruled by the Mughal Empire, was the world’s richest nation with a Gross Domestic Product (GDP) of around $150 billion, New Geography estimates. India’s GDP was around $30 billion more than its closest competitor China which had around $120 billion in GDP.
Similarly, India had 24.5% of the world’s GDP in 1700, Infogram estimates. Comparatively, the United States had around 24.15% of global GDP in 2021. The Chinese Empire had 22.3% of global GDP and the United Kingdom, France, and Germany had 11.8% of world GDP in 1700. The British colonies that became the United States had 0.1% of the world’s GDP in 1700.
In 1820, India’s percentage of global GDP fell to 16.1% while China’s percentage of global GDP surged to 33%. Britain, France, and Germany’s global GDP share rose to 14.2%. The new United States had 1.8% of global GDP in 1820.
China’s GDP rose to around $355 billion in 1820, New Geography estimates. Comparatively, India’s gross domestic product rose to around $160 billion. Britain’s GDP rose to around $50 billion in 1820.
