Finshots Daily What if India got back everything the UK stole?
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Jan 23, 2025 What if India reclaimed the wealth taken during colonial rule? This thought-provoking discussion explores the potential boost to India's economy, from reducing national debt to enhancing infrastructure. The vision includes strategic investments in housing, education, and healthcare, aiming to create jobs and foster growth. However, it also delves into the economic implications, such as inflation risks and the idea of a sovereign wealth fund to ensure sustainable management of the newfound wealth.
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Colonial Wealth Extraction
- India historically had a large trade surplus, but colonial rule altered its benefits.
- The East India Company and British Crown used Indian taxes to pay for exports, preventing wealth from staying within India.
Debt Elimination
- Repatriating looted wealth could eliminate India's external debt, which is around $710 billion.
- This represents only 1% of the estimated $65 trillion taken, saving over $20 billion in annual interest payments.
Improved Public Services
- India could significantly improve education and healthcare with repatriated funds.
- Doubling education spending and increasing healthcare spending to 5% of GDP would yield major advancements.