The MHI 107 History of Indian Economy-2: C.1700 to 2000 assignment solution provides a thorough examination of the economic transformations that took place in India from the early 18th century to the end of the 20th century. This solution, aligned with IGNOU guidelines, offers an in-depth look at how colonialism, industrialization, economic planning, and globalization have shaped India’s economy over the last three centuries.

The study begins by analyzing the impact of colonialism on India’s economic structures. The solution explores how the British East India Company’s policies and the eventual establishment of direct British rule led to the exploitation of India’s resources, the destruction of traditional industries, and the imposition of new land revenue systems, such as the Zamindari system and Permanent Settlement. These colonial policies, while benefiting the British economy, led to economic stagnation in India, with a rise in agrarian distress, deindustrialization, and the breakdown of the traditional craft industries. The study covers the economic implications of colonial exploitation, focusing on cash crops, the drain of wealth, and the resulting poverty in rural areas.

The study then turns to the 19th century, examining the rise of industrialization and the growth of Indian capitalism under colonial rule. Although the British colonial system stifled India’s industrial growth in comparison to other parts of the world, the late 19th century saw the rise of the first Indian industrialists who began to invest in textiles, railways, and steel industries. The solution explores the development of key industries such as jute, cotton textiles, and iron and the economic impact of British-led infrastructure projects like the railway network. The study discusses how the Indian middle class began to emerge during this period, gradually contributing to the Indian economy, despite the limitations imposed by the colonial system.

Next, the solution examines the economic policies adopted by India after gaining independence in 1947. The study delves into the socialist-oriented economic policies that were implemented under the leadership of Jawaharlal Nehru, focusing on the adoption of five-year plans and the establishment of state-led industries. The focus on heavy industries, public sector enterprises, and import substitution industrialization is analyzed in relation to the goal of self-sufficiency and economic development. The solution also looks at the role of planning commissions and economic planning in India’s post-independence growth trajectory, examining both the successes and challenges of the planned economy. The study also addresses the Green Revolution, which led to increased agricultural production and helped India become more self-reliant in food grains by the 1970s.

The solution further explores the economic challenges faced by India during the 1970s and 1980s, including inflation, external debt, and balance of payments problems. It provides an analysis of the economic liberalization policies introduced in the 1990s, focusing on the reforms initiated under Prime Minister Narasimha Rao and Finance Minister Manmohan Singh. The study examines how globalization, privatization, and liberalization transformed India’s economic landscape, leading to greater foreign investment, the growth of the information technology sector, and a shift towards a market-driven economy. The economic impact of globalization is analyzed in terms of economic growth, foreign trade, and the rise of India's service sector as a key component of the global economy.

Finally, the study covers India’s economic position in the global economy by the end of the 20th century. The solution highlights the country’s rise as an emerging economic power, the role of India in global trade, and its increasing influence in international financial institutions. The study explores the challenges and opportunities India faced as it entered the 21st century, including issues related to economic inequality, poverty, and the need for further economic reforms to ensure inclusive growth.

For students seeking more personalized support, a custom handwritten option is available. This option allows students to receive tailored insights into specific aspects of India’s economic history, such as the impact of colonialism, post-independence economic planning, or the economic liberalization of the 1990s.