- Agriculture:
- Agrarian structure dominated by landlords, moneylenders, merchants, and colonial state.
- They appropriated over half of total agricultural production.
- Very little was spent to improve agriculture.
- Land rights of peasants were unfairly distorted.
- Led to extreme subdivision and fragmentation of land.
- Industry:
- Rapid collapse of Indian handicraft and artisanal industries.
- Due to competition from cheaper British manufacturers.
- Policy of free trade imposed on India.
- Britain and Europe imposed high import duties on Indian goods.
- Virtual closing of European markets to Indian manufacturers after 1820.
- Almost complete absence of heavy or capital goods industries.
- Industrial development confined to cotton, jute, coal, tea, sugar, cement, paper.
- Foreign capital dominated industrial and financial fields.