Indian national movement and the British finance capital: An analysis of irreconcilable contradiction (1915-1939)
Author(s): Avinash Kumar
Abstract: This paper examines the economic conflict between the Indian national movement and British finance capital during the period from 1915 to 1939. It highlights how the colonial economic system, primarily designed to serve British imperial interests, directly opposed the economic aspirations of Indian nationalists. The exploitation of India’s resources by British finance capital, including the extraction of wealth through trade imbalances, high land taxes, and interest on loans, created a structural contradiction with the Indian nationalist movement, which sought not only political independence but also economic sovereignty. Leaders like Mahatma Gandhi and Jawaharlal Nehru promoted economic nationalism, calling for the development of indigenous industries and self-reliance, with Gandhi advocating for rural self-sufficiency and Nehru pushing for industrialization and state-run enterprises. The paper explores the rise of economic nationalism and critiques of British policies, including the drain of wealth theory and the call for decolonization of the Indian economy. It also examines the role of Indian capitalists in challenging British control and the contradictions between British finance capital and the nationalist economic vision. This conflict, as the paper argues, made cooperation between the two interests impossible, and shaped India's post-independence economic policies, especially in areas like industrialization, self-reliance, and social welfare.
DOI: 10.22271/27069109.2025.v7.i12b.598Pages: 97-100 | Views: 64 | Downloads: 31Download Full Article: Click Here
How to cite this article:
Avinash Kumar.
Indian national movement and the British finance capital: An analysis of irreconcilable contradiction (1915-1939). Int J Hist 2025;7(12):97-100. DOI:
10.22271/27069109.2025.v7.i12b.598
