Colonial History Of India-2

[acharya]

http://www.opendemocracy.net/theme_7-corpo...article_904.jsp

Loot: in search of the East India Company
Nick Robins, 22 - 01 - 2003
Concerns about corporate power and responsibility are as old as the corporation itself. In this account of the East India Company, the world's first transnational corporation, Nick Robins argues that an unholy alliance between British government, military and commerce held India in slavery, reversed the flow of trade and cultural influence forever between the East and West and then sunk almost without trace under the weight of colonial guilt.
22 - 01 - 2003


Mid nineteenth century view of Lahore, home to one of the Emperor's courts during the Mughal period. Panoramic scroll by an Indian artist. Or.11186
© British Library

Ours is a corporate age. Yet, amid the fertile arguments on how to tame and transform today's corporations, there is a curious absence, a sense that the current era of business dominance is somehow unique. For there was a time when corporations really ruled the world, and among the commercial dinosaurs that once straddled the globe, Britain's East India Company looms large. At its height, the Company ruled over a fifth of the world's people, generated a revenue greater than the whole of Britain and commanded a private army a quarter of a million strong.

Although it started out as a speculative vehicle to import precious spices from the East Indies – modern-day Indonesia – the Company grew to fame and fortune by trading with and then conquering India. And for many Indians, it was the Company's plunder that first de-industrialised their country and then provided the finance that fuelled Britain's own industrial revolution. In essence, the Honourable East India Company found India rich and left it poor.