IGNOU Assignment Solution (MHI-107) History of Indian Economy-2

IGNOU Assignment Solution MHI 107 (History of Indian Economy 2)

Assignment
MHI-107: History of Indian Economy-2
c.1700-2000

Course Code: MHI-107
Assignment Code: MHI-105/AST/TMA/Jan24
Total Marks: 100

Note: Attempt any five questions. The assignment is divided into two Sections ‘A’ and ‘B’. You have to attempt at least two questions from each section in about 500 words each. All questions carry equal marks.

SECTION A

1. ‘The eighteenth century was a century of universal decline.’ Comment.

2. What role did the India merchants play in India’s trading economy during the late 19th century?
   
3. Critically examine recent arguments pertaining to drain of wealth.
   
4. Analyze the impact of colonial interventions on tribal economy.
   
5. Write short notes on any two of the following. Answer in about 250 words each.
   
   i) Rise of European Private Trade
   ii) Impact of Indian Commercialisation
   iii) Herschell Committee Report
   iv) Customary Rights of Forest-Dwellers

SECTION B

6. Critically examine Morris D. Morris’ argument that there was ‘not much direct evidence of the decline of India’s traditional industries.’

7. Critically examine women’s employability in colonial India.
   
8. Analyze the nature of Indian economic growth in the first three five year plans.
   
9. What impact did bank nationalization had on the development of credit market, savings and investments?
   
10. Write short notes on any two of the following. Answer in about 250 words each.
    
    i) Early Census
    ii) Bird Heiglers & Co.
    iii) Globalisation
    iv) Economic Reforms in the 1990s

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Answer

1. ‘The eighteenth century was a century of universal decline.’ Comment.

The statement “The eighteenth century was a century of universal decline” is a complex one that requires a nuanced analysis of historical, social, economic, and cultural factors. In this essay, I will delve into various aspects of the eighteenth century to evaluate the validity of this statement.

Firstly, it’s essential to acknowledge that the eighteenth century was a period of significant transition and change across the globe. It witnessed the Enlightenment, a philosophical movement that emphasized reason, science, and individual rights. This era also saw the rise of colonial empires, revolutions, and the beginnings of industrialization. These developments had both positive and negative impacts on societies worldwide.

One of the key arguments supporting the notion of universal decline in the eighteenth century is the prevalence of warfare and conflicts during this period. The century was marked by several major wars, including the War of Spanish Succession, the Seven Years’ War, and the American Revolutionary War. These conflicts caused immense human suffering, economic strain, and political instability. The widespread warfare disrupted trade, led to the destruction of infrastructure, and drained resources that could have been used for societal advancement.

Additionally, the eighteenth century was characterized by economic challenges for many regions. Agricultural productivity was still largely dependent on traditional methods, leading to periodic famines and food shortages. Moreover, the Atlantic slave trade flourished during this time, contributing to the exploitation and dehumanization of millions of people. The economic prosperity enjoyed by some nations, such as Britain during the Industrial Revolution, was not shared universally and often came at the expense of marginalized groups.

Socially, the eighteenth century witnessed entrenched inequality and injustice. Feudal systems persisted in many parts of the world, with a rigid social hierarchy that limited social mobility and opportunities for the majority of people. Slavery, serfdom, and indentured labor were widespread, perpetuating systems of oppression and exploitation. Women, in particular, faced significant restrictions on their rights and freedoms, with limited access to education, property ownership, and political participation in most societies.

However, it would be inaccurate to paint the entire century as a period of uninterrupted decline. The eighteenth century also saw significant advancements in various fields that laid the groundwork for future progress. The Enlightenment brought about intellectual breakthroughs, challenging traditional beliefs and paving the way for scientific discoveries and technological innovations. Thinkers like Voltaire, Rousseau, and Montesquieu questioned authority and advocated for greater individual liberties and democratic governance.

Moreover, the eighteenth century witnessed the emergence of modern nation-states and the spread of democratic ideals. The American and French Revolutions, though tumultuous, were pivotal moments in the struggle for political rights and self-determination. These revolutions inspired movements for independence and democracy in other parts of the world, contributing to the eventual downfall of colonialism and feudalism in many regions.

Culturally, the eighteenth century was a period of creativity and artistic flourishing. The era produced masterpieces in literature, art, music, and architecture, with figures like Mozart, Bach, Shakespeare, and Voltaire leaving a lasting impact on their respective fields. The exchange of ideas through trade, exploration, and intellectual discourse enriched cultures and contributed to the diversity of human expression.

In conclusion, while the eighteenth century was indeed marked by challenges such as warfare, economic hardships, social inequality, and cultural conflicts, it would be simplistic to characterize it solely as a century of universal decline. The period was complex and multifaceted, with moments of progress and setbacks intertwined. It laid the foundation for many of the modern institutions, ideas, and movements that continue to shape our world today. Understanding the nuances of this pivotal century is crucial in assessing its legacy and lessons for the future.

2. What role did the India merchants play in India’s trading economy during the late 19th century?

India’s merchants played a crucial role in shaping the country’s trading economy during the late 19th century. This period was marked by significant changes in India’s economic landscape, influenced by colonialism, industrialization, and global trade dynamics. Understanding the role of India’s merchants during this time provides insights into the complexities of the era.

Firstly, it’s essential to recognize that India’s trading economy had a long history predating the colonial period. Merchants, both indigenous and foreign, had been engaged in trade across the Indian subcontinent and beyond for centuries. However, the late 19th century brought about transformative shifts that impacted the role and influence of Indian merchants.

One of the key factors shaping India’s trading economy during this period was British colonial rule. The British East India Company, and later the British Crown, exerted significant control over India’s trade policies, infrastructure, and markets. This colonial administration introduced new regulations, tariffs, and trade routes that affected how Indian merchants conducted their business.

Indian merchants during the late 19th century operated in a dynamic and evolving global trading network. The rise of industrialization in Europe created a growing demand for raw materials from India, such as cotton, jute, spices, and tea. Indian merchants capitalized on these opportunities by expanding their trade networks, establishing connections with European traders, and adapting to changing market trends.

The India merchants played a vital role as intermediaries between local producers and global markets. They facilitated the movement of goods, managed financial transactions, and navigated complex trade regulations. Many Indian merchants became wealthy and influential figures, building extensive business networks and contributing to economic growth in their communities. (Continue…..)

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