INDIAN HISTORY

Detailed explanation-1: -In 1867, Dadabhai Naoroji put forward the ‘drain of wealth’ theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India. He put forward the idea that Britain was draining and bleeding India and that, too, for nothing.

Detailed explanation-2: -The transfer of wealth from India to England for which Indian got no proportionate economic return, is called the Drain of Wealth. Till the Battle of Plassey, the European traders used to bring gold into India to buy Indian cotton and silk.

Detailed explanation-3: -Dadabhai Naoroji was an Indian nationalist and critic of British economic policy in India. He put forward the drain theory in his book “Poverty and UnBritish Rule in India". He became widely known for his unfavourable opinion of the economic consequences of British rule in India.