 |
|
Oxfam International's report, "Takers not Makers: The unjust poverty and unearned wealth of colonialism," presents a staggering claim: the United Kingdom extracted a total of US$64.82 trillion from India between 1765 and 1900. This figure, equivalent to ₹5609.23 lakh crore, represents a vast transfer of wealth from a colonized nation to its imperial power. The report meticulously details the mechanisms through which this wealth extraction occurred, highlighting the systematic exploitation of India's resources and labor under British rule. The impact of this economic plunder extends far beyond the mere monetary value; it fundamentally shaped the socio-economic landscape of India, leaving a legacy of poverty and inequality that persists to this day. The report meticulously documents the various methods employed by the British to extract wealth, ranging from exploitative trade practices and unfair taxation to the direct appropriation of resources and land. The analysis goes beyond simple accounting, exploring the systematic dismantling of existing Indian industries and the suppression of local entrepreneurship in favor of British interests. This created a dependency on the British economy that crippled India's ability to develop independently. The long-term consequences of this economic exploitation are still felt in contemporary India, contributing to persistent poverty and hindering its economic progress. This historical context provides a crucial understanding of the current economic disparities between India and the UK.
The report's most striking revelation lies in the distribution of this plundered wealth within the UK. A staggering 52.14%, or US$33.8 trillion, flowed directly into the hands of the richest 10% of British society. This stark disparity highlights the profoundly unequal nature of the colonial relationship. The remaining 48% was distributed amongst the emerging middle class within the UK, further emphasizing the concentration of wealth resulting from colonial exploitation. The report uses this data to visualize the sheer scale of the wealth transfer; it suggests that the money received by the wealthiest 10% would be enough to cover London in £50 notes almost four times over. This powerful imagery underscores the immense disparity created by colonialism and the disproportionate benefit enjoyed by a small elite in the colonizing power. This wealth transfer wasn't a mere economic event, but a structural process that fundamentally reinforced existing power dynamics and created a deeply inequitable global order.
Oxfam argues that the legacy of this colonial plunder continues to shape the global economic landscape. The report emphasizes that the inequalities pioneered during the colonial era persist in modern times, manifested in persistent wealth disparities between the Global North and the Global South. The report explicitly links the current systemic extraction of wealth from developing nations to the historical context of colonialism. This ongoing extraction, the report contends, is deeply rooted in the legacies of racism and exploitation established during the colonial period. The report concludes by calling for a renewed commitment to addressing global economic inequalities and rectifying the historical injustices perpetuated by colonialism. It suggests various policy measures aimed at fostering fairer trade practices, promoting sustainable development in the Global South, and addressing the enduring consequences of colonial exploitation. The report’s findings provide a compelling case for greater understanding and redress for the enduring impacts of historical colonialism on global inequality.
The report's publication has sparked considerable debate and discussion, prompting renewed calls for reparations and a critical reassessment of the historical narrative surrounding British colonialism in India. While the exact figures and methodologies employed in the report have been subject to some scrutiny, the report’s central argument – that British colonialism resulted in a massive transfer of wealth from India, contributing significantly to present-day global inequalities – remains compelling. The report’s impact lies not only in its quantitative findings but also in its qualitative analysis of the long-term consequences of colonialism, highlighting its lasting impact on political, social, and economic structures in both India and the UK. The report serves as a stark reminder of the enduring legacy of imperialism and the urgent need for global cooperation to address the persistent inequalities that stem from historical injustices.
Source: UK took $65 trillion from India during colonisation, claims Oxfam report