India then and today In 1750 India and China accounted for almost 75 per cent of world industrial output. "In 1600 when East India Company was established, Britain was producing just 1.8 per cent of world's GDP, while India was generating some 23 per cent. By 1940, after nearly two centuries of the Raj, Britain accounted for nearly 10 per cent of world GDP, while India has been reduced to a poor 'third world' country, destitute and starving, a global poster child of poverty and famine. [Niall] Ferguson [an apologist historian for Imperialism] admits that 'between 1757 and 1900 British per capita gross domestic product increased in real terms by 347 per cent, Indian by a mere 14 per cent'. Even that figure masks a steadily worsening performance by the Raj: from 1900 to 1947 the rate of growth of the Indian economy was below 1 per cent, while population grew steadily at well over 3.5 per cent, leavened only by high levels of infant and child mortality that s...