The Economy of Modern India, 1860-1970 (The New Cambridge History of India)

This is the first comprehensive and interpretative account of the history of economic growth and change in colonial and post-colonial India. Dr. Tomlinson draws together and expands on the specialist literature dealing with imperialism, development and underdevelopment, the historical processes of change in agriculture, trade and manufacture, and the relations among business, the economy and the state. What emerges is a picture of an economy in which some output growth and technical change occurred both before and after 1947, but in which a broadly based process of development has been constrained by structural and market imperfections. Tomlinson argues that India has thus had an underdeveloped economy, with weak market structures and underdeveloped institutions, which has since 1860 profoundly influenced the social, political and ecological history of South Asia.