British rich people made money during the colonial period, and more than half of the wealth taken out from India went to 10% of rich people- Study.

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During its rule over India, Britain exploited the country heavily and took away immense wealth to its country and only a few rich people benefitted from it. A report states that Britain took out 64,820 billion US dollars from India during the colonial period of more than 135 years between 1765 and 1900 and out of this, 33,800 billion dollars went to only the richest 10 percent of the country's people.

This information has been given in the new major global inequality report of the rights group Oxfam International. This report titled Takers, Not Makers was released here on Monday, a few hours before the annual meeting of the World Economic Forum (WEF). Citing several studies and research papers, this report claimed that the modern multinational corporation is only a result of colonialism.

More than half the wealth is with the rich.

Oxfam said, “The distortions of inequality and plunder that existed during the historic colonial era are reshaping modern life. This has created a highly unequal world, a world plagued by divisions based on racism. A world that has systematically extracted wealth from the Global South, whose benefits have gone mainly to the richest people in the Global North.”

Based on several studies and research papers, Oxfam found that between 1765 and 1900, Britain's 10 percent richest people took out wealth worth US$33,800 billion from India alone. According to the report, "If the surface area of ​​London is covered with 50 British pound notes, then this amount is four times more than the value of those notes."

The emerging middle class also benefited

Oxfam said apart from the very wealthy, the emerging middle class benefited from colonialism, citing the wealth extracted by Britain from India during the more than 135-year colonial period between 1765 and 1900. Oxfam described the ongoing effects of colonialism as the fruit of a poisonous tree and said only 0.35 per cent of India's languages ​​are taught in schools.

Oxfam's report on the wealth extracted by Britain from India during colonialism between 1765 and 1900 said that apart from the richest people, the main beneficiaries of colonialism included the newly emerging middle class.

India's industrial production was destroyed

The richest 10 percent received 52 percent of this income while the new middle class received 32 percent. Furthermore, in 1750, the Indian subcontinent's share of global industrial output was about 25 percent, which by 1900 fell sharply to 2 percent.

This is part of Oxfam International's latest flagship Global Inequality Report, which is released each year on the first day of the World Economic Forum's annual meeting.