… We had for example Sir Richard Otterwy suggesting, challenging the very idea that it could be argued that the economic situation of the colonies was actually worsened by British colonialism. Well I stand to offer you the Indian example, Sir Richard. India’s share of the world economy when Britain arrived on its shores was 23%. By the time the British left it was down to below 4%. Why? Simply because India had been governed for the benefit of Britain. Britain’s rise for 200 years was financed by its depradations in India. In fact, Britain’s Industrial Revolution was actually premised upon the de-industrialization of India. The hand loom weavers for example, famed across the world, whose products were exported round the world, Britain came right in, there were actually these weavers making fine muslin, light as woven air it was said, and Britain came right in, broke their thumbs, smashed their looms, imposed tariffs and duties on their cloth and products, and started of course, taking the raw materials from India, and shipping back manufactured cloth, flooding the world’s markets with what became the products of the dark and satanic mills of Victorian England. That meant that the weavers in India became beggars, and India went from being a world-famous exporter of finished cloth, into an importer.
– Dr Shashi Tharoor, speaking at a debate at Oxford.