ECONOMIC DRAIN THEORY

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The term ‘economic drain’ refers to a portion of national product of India which was not
available for consumption of its peoples, but was being drained away to Britain.
•The drain theory was put forward by Dadabhai Naoroji in his book Poverty and Un British
Rule in India.
• The major components of this drain were salaries and pensions of civil and military officials,
interests on loans taken by the Indian Government from abroad, profits on foreign
investment in India, stores purchased in Britain for civil and military departments, payments
to be made for shipping, banking and insurance services which stunted the growth of Indian
enterprise in these services.
• The drain of wealth checked and retarded capital formation in India while the same portion
of wealth accelerated the growth of British economy.
• The surplus from British economy re-entered India as finance capital, further draining India
of its wealth.

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