A report by Oxfam International has opened the world’s eyes about India.
New Delhi: Our country was the “golden bird”. We have all heard this saying many times, but you will be surprised to know that a recent study has proven that India was indeed the “golden bird”. The people here were the richest in the world. They had so much wealth that today’s countries like America and China would pale in comparison.
The stories we heard during our childhood were not fairy tales. British research has proven that India was indeed the golden bird. It had so much wealth that today not only India but the entire world would be prosperous.
In fact, a report by Oxfam International has opened the world’s eyes about India. According to this report, Britain extracted 64.82 trillion US dollars’ worth of wealth from India during the colonial period from 1765 to 1900. You can gauge the magnitude of this amount by the fact that currently, India’s total economy is only 3.5 trillion dollars. The economy of the United States is about 28 trillion dollars. This means that Britain looted more than double the current economy of the USA.
The report states that of the $65 trillion looted by Britain, $33.8 trillion went to the richest 10 percent of the population in Britain.
Oxfam International Report
This latest report from Oxfam International is released every year at the beginning of the World Economic Forum (WEF). The report is titled ‘Takers, not Makers’ and was published on Monday, 20 January 2025. At this time, the world’s rich and powerful are gathering in Switzerland.
The report states that the foundations of inequality and exploitation laid during the colonial era continue to this day, and this inequality is still felt in many parts of the world. Oxfam claims that this inequality persists and has created a world where wealthy countries continuously extract wealth from the Global South.
Citing several studies, Oxfam reported that between 1765 and 1900, the richest 10 percent of people in Britain extracted $33.8 trillion in wealth from India. This amount is so large today that it could cover the entire surface of London four times with £50 notes.
MNCs that emerged from colonialism
Oxfam stated that modern multinational companies originated from colonialism, and a prominent example of these companies is the ‘East India Company’, which committed many colonial crimes under its rule. Even today, these companies exploit workers in the Global South, especially women. The report stated that wages in the Global South are 87 to 95 percent lower compared to the Global North. Large multinational companies take advantage of cheap labour and continuously exploit resources.
