History of International Business -British phase

Report on
International Business History in Bangladesh Context (British Phase)
Course: BUS 685 # 1, Summer 2019
Submitted To
Dr. Muslima Zahan
Assistant Professor
Submitted By
1 M Ziaul Hoque 1815258060
2 Md. Shokran 1815169660
3 Kaniz Fatema 1825059660
4 Syeda Amber Jalal 1815089060
5 Ridhwan Mohammad Chowdhury 1725173660
School of Business and Economics
North South University
Date of Submission: 01/09/2019

Table of Contents
1. Executive Summary ......................................................................................................................................................1
2.1 Introduction...................................................................................................................................................................1
2.2 Arrival of the British ..................................................................................................................................................2
3. Objective............................................................................................................................................................................2
4. Methodology ....................................................................................................................................................................2
5. Infrastructure Development and Impact during the British Rule ............................................................3
5.1 Education...................................................................................................................................................................3
5.2 Roads & Railways...................................................................................................................................................3
5.3 Development of Canals for Trade and Irrigation......................................................................................4
5.4 Agriculture and Industry ....................................................................................................................................5
5.5 Telegraphy ................................................................................................................................................................5
6. Economy of British Era- International Business Aspect...............................................................................5
6.1 Trades: Before Industrial Revolution............................................................................................................6
6.1.1 Trade Deficit of Britain – the realization of business opportunities in subcontinent .....6
6.1.2 The First FDI ....................................................................................................................................................6
6.1.3 Major Exports..................................................................................................................................................6
6.1.4 Import.................................................................................................................................................................8
6.2 Trade Strategies- a holistic one........................................................................................................................8
6.2.1 Political and Social Strategies...................................................................................................................8
6.2.2 Economicaland Commercial Strategies- tricks, lower, policies, monopoly, unfair
prices and dictation..................................................................................................................................................9
7. Industrial Revolution in the British Period......................................................................................................10
7.1 Cotton........................................................................................................................................................................11
7.2 Silk ..............................................................................................................................................................................12
7.3 Ship-Building..........................................................................................................................................................13
7.4 Salt-Trading ............................................................................................................................................................14
7.5 Sugar Trading.........................................................................................................................................................15
7.6 Cottage Industry ...................................................................................................................................................16
8. Political Aspect in British Era.................................................................................................................................17
8.1 Ruling over commercial & administrative side: .....................................................................................17
8.2 Permission for private traders:......................................................................................................................18
8.3 Indigo and Handloom industry:.....................................................................................................................18
8.4 Customs Duty and Tax Rule:............................................................................................................................18

8.5 Control Over National Product:......................................................................................................................18
8.6 Financial Support for Further Expansion:.................................................................................................19
9. Historic Business Reflection:..................................................................................................................................19
9.1 Ancient Era:.............................................................................................................................................................19
9.2 Muslim Era:.............................................................................................................................................................19
9.3 Mughal Era:.............................................................................................................................................................20
9.4 European (Non British) .....................................................................................................................................20
9.5 Reflection of British Era in Modern Bangladesh: an observation...................................................20
9.5.1 Infrastructure................................................................................................................................................20
9.5.2 Business ...........................................................................................................................................................21
9.5.3 Mind-set ...........................................................................................................................................................21
10. Strategic Implication & Lessons..........................................................................................................................23
10.1 Economy-Products, Business Forms, GDP ............................................................................................23
10.2 Policies- Impact on International Business............................................................................................23
10.3 Technology and Infrastructure- Factors that can take the Economy to another level .......23
10.4 Politics- governance and relations.............................................................................................................24
11. Conclusion....................................................................................................................................................................24
12. References....................................................................................................................................................................25
12.1 Journals..................................................................................................................................................................25
12.2 Websites ................................................................................................................................................................25
12.3 Newspaper & Newsletter...............................................................................................................................28
12.4 Circulars.................................................................................................................................................................29

International Business History in Bangladesh Context: British Phase
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1. Executive Summary
The report provides an overview of international business under the rule of British Empire in
context with Bangladesh. The report begins with a brief introduction on the emergence of the
British Rule in India describing the different strategies undertaken by the British to take over
the subcontinent. The report elaborates further on the economic environment of India before
the British intervention as well as the changes that had been brought about after the arrival of
the British. It also sheds light upon main objective of British, why they had chosen to conquer
India and how they gradually and successfully had taken over the entire nation. In this
research, a few major impacts of the British Rue have also been discussed in further details
regarding infrastructural developments brought about in this period, which are still prevalent
in the country today. The political and economic scenario of the country during the British
period has also been incorporated which had led to the emergence of international business
within India and helps us to gain further insights and strategic implications and motives
behind each of their strategies. Noticeable Business strategies also compares the periods
preceding the British rule with the British rule. It also states the unfair treatment of British
towards the Indian locals through various laws and highlights upon the contributions by the
locals during that period. The report finally concludes with a tabled synopsis of the overall
project, which gives us a bird’s-eye view of overall strategies involved during the period.
2.1 Introduction
Modern Bangladesh emerged as an independent nation in 1971 after breaking away and
achieving independence from Pakistan in the Bangladesh Liberation War. The country's
borders corresponded with the major portion of the ancient
and historic region of Bengal in the eastern part of the Indian
subcontinent, where civilization dates back over four
millennia. The British East India Company at the Battle of
Plassey later conquered it in 1757. Bengal directly
contributed to the Industrial Revolution in Britain but led to
its deindustrialization.
The borders of modern Bangladesh were established with the
separation of Bengal and India in August 1947, when the region
became East Pakistan as a part of the newly formed State of
Company rule in India.
(n.d.). Retrieved July
12, 2019

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Pakistan following the Boundary of the Partition of India. The Liberation War in Bangladesh
resulted in the independence of the People's Republic of Bangladesh.
2.2 Arrival of the British
Arrival of the British and the establishment of British
East India Company was the outcome of the Portuguese
traders who earn enormous profit by selling their
merchandise in India. Motivated by the successful
business stories of the Portuguese a group of English
merchants -‘Merchant Adventurers’ formed a company-
the East India Company in 1599 AD. First East India
Company voyage was in 1601 and James Lancaster
commanded it. (Herbert, William, 1836)
3. Objective
British were in our country for a very long period.
They entered our country for the purpose of doing business. Later on, they took powers so
that they can rule the business sector and can earn profit from that. Several important changes
in the business sector occurred at that time. Our main objective of the research was to gather
knowledge about those changes in business and we have tried to compare the significant
changes at this period with others. In short the objectives of the study are:
 To accumulate knowledge about the business history during British Era.
 Get to know about different factors that affected the business during the mentioned
period.
 To learn about different business strategies of British period.
 Comparing the significant changes with other periods to learn about the significant
business policy differences.
 Learning about the contribution of local people for the development of business.
4. Methodology
In order to conduct this study we have done qualitative research. For that, we have
undertaken secondary research, desk research. We have referred to a number of websites,
James Lancaster commanded the first East
India Company voyage in 1601 (Herbert,
William, 1836)

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reports, online journals, newspapers and newsletters to gather sufficient resources, which
would help us gain further understanding about the business strategies and tactics used by the
British to exploit the competitive advantages offered, by the Indian subcontinent.
5. Infrastructure Development and Impact during the British Rule
5.1 Education
Upon the rule of British Raj, after the Charter Act of 1813, the British decided to introduce
scientific education through the medium of English in India. (Jhunjhunwala, 2018)
The main objective behind introducing Western Education India was to create a pool of
people Indian in nationality and color, having British opinions and ways of thinking so they
could assist British run their Empire by serving them interpreters between the Government
and the people they ruled over hence creating a workforce for themselves creating demand
for British goods. The British were among the first to establish scientific universities in India
in 24 Jan 1857, which is now named as Calcutta University, Madras University and Bombay
University. (Anwar, 2019)
5.2 Roads & Railways
The British were among the first ones to introduce the first railways in the Indian
subcontinent. The British rulers were able to make an absurd amount of money as the Indian
government promised the British double returns of government stock paid solely by India.
The main objective of the British behind the construction of railways in India was to transport
extracted raw materials, and to sell their cheap machine-made clothes, iron and steel goods in
India and to ease the movement of troops. The exports comprised of raw materials such as
cotton, jute, tea, coffee, wheat, oil, seeds, opium, sugarcane, tobacco, whereas, the imports
consisted of cloth from English mills, railway and military hardware. During the 19th
century, Britain had a trade surplus with India and had a growing deficit in its overall
international trade with other countries, which were offset by India export surpluses. (Satya,
n.d.)
They allowed movement of people only when it served their own interests. Indians were
gathered in third-class compartments with total absence of basic amenities. However, the
Europeans travelled in first class compartments. The railways had been used to transport
troops and grain to the ports of Bombay and Karachi en route to Britain, Mesopotamia, and
East Africa. (Economy of India Under the British Raj, n.d.)

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The country's first train, which was named
as Red Hill Railway was built by Arthur
Cotton to transport granite and other
materials for road-building. The railway
ran from Red Hills to the Chintadripet
bridge in Madras in 1837. Moreover, roads
were developed during the British rule in
order to mobilize the movement of troops and
raw materials to the ports and railway stations with more ease. (Tharoor, 2017)
5.3 Development of Canals for Trade and Irrigation
The British Raj had established the largest irrigation system around 1900. Irrigation systems
were developed and incentives were given for growing cash crops (to replace food grains) for
export to European nations and for Indian industry, especially jute, cotton, sugarcane, coffee
and tea. Assam, which had initially been a barren land
before the British rule, was observed to have developed
4,000,000 acres of land for tea plantations. The British
ruler, Scotsman Robert Bruce set up their own
plantations in India to reduce dependency on Chinese
tea. They took over the homes of natives and paid the
Indian laborers poorly to clean and cultivate the land for
plantation in Assam. The tea was later cultivated and
shipped off to England. The little amount that was left in India was sold at high prices to the
locals. (Economy of India under the British Raj, n.d.)
During the British Rule, famines necessitated the British to develop and improve existing
canals of India in order to protect itself from famines. They had undertaken new projects such
as the Upper Ganga Canal, the Upper Bari Doab Canal and Krishna and Godavari Delta
Systems. (Shirsath, 2009)
In November 17, 1869, the Suez Canal opened doors for enhanced trade between Britain and
India. This trade increased opportunities for Britain where they flooded India with
inexpensive, machine-made textiles bringing an end to India's prosperous hand-weaving
industry. (British India Timeline, n.d.)
The first train by British (Tharoor, 2017)
Suez Canal ( Suez Canal, n.d.)

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5.4 Agriculture and Industry
Indian economy followed traditional agricultural practices during the British rule. During this
era, the farmers had grown rice and wheat and different types of pulses. Towards the 19th
century, British explored export opportunities for Indian agricultural commodities like indigo,
jute, cotton and oilseeds to be sent to Britain. Indian agriculture was also commercialized in a
way that was harmful to Indians. Farmers started getting into debt as majority of the crops
were given to the British government. India grew as a source of raw materials for the British
as they were high in demand for the manufacture of British goods. Moreover, the
development of infrastructure pertaining to roads and railways in 1850 made it easier to
commercialize agriculture in India. (Kwat, n.d.)
During the 18th century, the once-prosperous textile industry of India faced intense
competition from factory-manufactured products in England and faced a sharp decline. The
British only focused on jute and tea and indigo plantation due to geographical advantage in
India and exploit Indian laborers. The British wanted India to become focused in primary
production and demand the finished goods from Britain through free trade. (Kwat, n.d.)
5.5 Telegraphy
In the early 1856, Lord Dalhousie developed a 4000-mile telegraph system which connected
Calcutta, Agra, Bombay, Peshawar, and Madras. The main objective of the telegraph was to
retain England's grip on India. Using these telegraphs, communication was made faster, ships
could be tracked and the British could be informed of any uprising that could take place
beforehand. In 1851, it was introduced between Calcutta and Diamond Harbor for the use of
British East India Company. (Role of Telegraph in Freedom Struggle of India, n.d.)
6. Economyof British Era- International Business Aspect
Before the British Time comes, Mughal’s economy was the second largest economy of the
world. GDP Estimated as 24% of the whole world economy, which was just behind China
and ahead of Europe. The economy was comprised of Agriculture, Industrial Manufacturing,
Textile and Shipbuilding etc. They introduced silver coin as their currency for their
transactions. The monetary tax system was based on a uniform Currency under a new
revenue system called Zabt (Economy of India, n.d.)

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6.1 Trades: Before Industrial Revolution
6.1.1 Trade Deficit of Britain – the realization of business opportunities in subcontinent
The Bengal was the top exporter of manufacturing goods, cash crops and ships. The
manufacturing goods were sold all over the world. The shipbuilding technology was much
better in Bengal than that of Europe, which led to a huge ship import by European firms from
this place. The Bengal was also top exporter of manufacturing goods, cash crops and ships.
The manufacturing goods were sold all over the world. The shipbuilding technology was
much better in Bengal than that of Europe, which led to a huge ship import by European
firms from this place.
The Mughals accounted for 95% of British Export and 40% of Dutch imports from Asia. On
the other hand British had very little to offer to Mughals which includes woolens,
unprocessed metals and some luxury items. British had to export gold and silver in large
quantities in order to pay for the South Asian imports. Apart from the British and Europe,
Bengal also exported to Americas, Africa and the Middle East. This trade deficit made the
British realize that they have significant business opportunities in South Asia. (Economy of
India, n.d)
6.1.2 The First FDI
With the permission of Mughal Emperor Jahangir, East India Company established small
factories in eastern coasts of India
and harmonized the business of
spices, textiles and luxury goods that
seemed profitable at that time. This
is their first FDI the Subcontinent.
(Rise and fall of Later they started to
increase their influence, started to
grow steadily and the Mughal
Empires went down slowly. (The
East India Company: How a trading
corporation became an imperial ruler, n.d.)
6.1.3 Major Exports
Commodities exported from the region by European companies included textiles, raw silk,
salt-petre and opium. Other products exported in relatively smaller quantities were sugar,
Small British Factories (The East India Company:
How a trading corporation became an imperial
ruler, n.d).

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rice, wheat, butter oil and mustard oil, wax, borax, lax, cowrie and gunny bags. Europeans,
however, did not export products from Bengal to Europe only; a substantial part of export
commodities went to the Middle East also.
EIC used to produce Black Pepper at a very cheap cost and export them to their parent
country Britain and other European countries in a bulk amount and most of them were sold to
London. From London, they used to re-export them to Poland and Russia. (The Rise and Fall
of The British East India Company, n.d. p.4)
Britain used to import Tea from China. In the late 17th Century, Tea drinking became so
popular in Britain but the problem was,
China used to sell Tea only in exchange
of Silver. The big amount of silver used
to be sent to China. EIC found a huge
scope to produce and export Tea in this
area. As a part of their business strategy,
they first provided people with tea at
lowest or no price to make them used to
it so that people start consuming and
producing tea here. The Plan was successful. Consequently, tea accounted for more than 60
percent of imports from India. In 1713, the Company imported 97,070 KGs; in 1813, the total
was almost 14,515,200 KGs, and customs duty on tea was providing 10 percent of the British
government’s annual revenues.
Indian Cotton was much cheaper than that of
any other part of the world. The cottons were
lighter than that of Britain. Therefore, it created
a huge demand in Britain. Cottons were
produced in a very lower cost and exported to
Britain. Consequently, Indian textiles accounted
for 60 percent of the total value of the
Company’s sales in London.
Opium was another source of income for
EIC. Opium was used to export China illegally. In late 18th Century, EIC produced Opium in
Bengal and sold to Calcutta on condition that, it would be sent to China. Opium was also
smuggled to China in order to pay for Chinese Tea that was exported to Britain. (The Rise
and Fall of The British East India Company, n.d. p.5)
The Rise and Fall of The British East India Company, n.d.
The Rise and Fall of The British East India Company, n.d.

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The plan was to produce goods at the lowest cost in East Indies and export them to Britain.
The exceeded volume was re-exported to different regions of the world. Spices, porcelain,
Silks, Woolen and many other products were produced at a very cheap cost as well
6.1.4 Import
EICs main goal was to produce demanded goods in Bengal export them to all over the world
and mostly to Britain. Bengal was their production plants. The used to produce goods in a
lowest cost and export them to Britain and other countries. For that, The Company used
import technologies and raw material to produce goods to export. They also imported some
luxury products and heavy metals for the use of British people (Andrea, n.d.)
6.2 Trade Strategies- a holistic one
Britain’s vision was to take the whole subcontinent in control and do business. When
Government does business, who else can compete? East India Company was the one to
execute all the strategies.
6.2.1 Political and Social Strategies
Started as a small stakeholder in Mughal Empire’s vast economy, EIC started to increasingly
involve in the politics of subcontinent and spread its influence all over targeting to
commercial opportunities. Consequently, the Company became the ruler of Subcontinent in
“Divide and rule policy” in India before and after the independence, 2012

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1857. They did it steadily. They slowly convinced the disloyal people of the Mughal Empire
made them betray with their own country in order to beat the whole Mughal Empire and their
plan was successful. By 1858, when British Empirical rule was established firmly in India,
the rulers started playing Indians against one another – princes against people; Hindu against
Muslims; caste against castes; and provinces against provinces. British rulers adopted the
policy of “Divide and rule”. They played Indian people against one another – princes against
people; Hindu against Muslims; caste against castes; and provinces against provinces.
(“Divide and rule policy” in India before and after the independence, 2012)
At early 17th Century, Britain beats French Imperial in order to create trade monopoly in sub-
continent. They also removed Portuguese and Dutch from sub-continent and operated
businesses solely.
6.2.2 Economical and Commercial Strategies- tricks, lower, policies, monopoly, unfair
prices and dictation
Initially EIC used to play a trading role In India. They used to bring heavy metals from
Britain and with these metals they sued to buy textile cotton from Indian Merchants and sell
them abroad. Having realized the popularity of Indian cloths they started to open new market
for Indian goods worldwide. Which motivated the Indians to allow the EIC to establish new
factories in India. That was a trick of British people to gain the acceptance of Businessmen
on India. However, after the war of Plassey in 1757, EIC took the political power and started
to act differently. Indian labors were made bound to work for EIC at a lower wage and
restricted to work for local Merchants. The Company removed its rival traders both India and
Roy, Economic Policies in India During British Rule | Indian History. n.d.

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Foreign and prevented from offering higher wages to the Indian labors. Cotton market were
monopolized by the Company as a result the price went so high for the local weaver. As a
result, the local cloth Industry started to collapse. British imposed heavy duty on goods
produced by Indian factories so that, Indian merchants found it difficult to export to Britain.
Besides, foreign merchants were restricted to enter into the market. (Roy, Economic Policies
in India During British Rule | Indian History. n.d.)
After 1753, The Bengal Government, which is actually EIC, takes a free trade policy in favor
of Britain. Under that Policy British goods made by machines were taken to India at a very
tariff. These machined made products were cheaper from the Indian hand made goods. Indian
doors were made open for the foreign goods with a nominal tariff on the other hands Indian
goods were imposed heavy duties to enter into Britain. ((Roy, Economic Policies in India
During British Rule | Indian History. n.d.)
Significant number of British manufactures were employed without any policy in Bengal to
increase the production of Machines made British goods in order to compete with Indian
hand made goods. On the other hand, instead of exporting Indian manufacturers to Britain,
Indian had to export raw materials like, tea, indigo, raw cotton and raw silks and other food
grains at a very lower cost to Britain. (Roy, Economic Policies in India During British Rule |
Indian History. n.d.)
These unfair Economic policies backed by political power were imposed on Indian economy
in order to favor British merchants and businesses in Bengal. Gradually they took over the
factories and businesses in Bengal and eliminated the locals from the business. They also
increased the land taxes from farmers
Britain had a long-term plan to make profit, transfer resources buy ruling the country. So,
they approached from every corner, whether it was legally, technically or illegally by using
political power over the people of sub-continent. The wealth Drain happened rapidly in that
time. British people took back the resources to Britain as much as they could through
excessive export to Britain.
7. Industrial Revolution in the British Period
After establishing its factories in south and west India, the company started to focus on east
India particularly Bengal a significant province Mughal empire. The governor of Bengal
Sujauddaula in 1651 AD, allowed the English Company to carry out its trade activities in
Bengal. A factory in Hugli was established and three villages -Sutanati, Govindapur and

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Kolkata- were purchased in 1698 AD by the Company to build a factory over there.
Subsequently Fort William was raised in order to provide protection around the factory.
("History of Bengal," n.d.)
The British East India Company, that took complete control of Bengal in 1793 by abolishing
Nizamat (local rule), chose to develop Calcutta, now the capital city of West Bengal, as their
commercial and administrative center for the Company-held territories in South Asia. The
development of East Bengal was thereafter limited to agriculture. The administrative
infrastructure of the late eighteenth and nineteenth centuries reinforced East Bengal's function
as the primary agricultural producer—chiefly of rice, tea, teak, cotton, sugar cane and jute —
for processors and traders from around Asia and beyond. ("Nawabs of Bengal and
Murshidabad," n.d.)
7.1 Cotton
British period prior to establishment of British rule in India, the textile sector of Bengal was
completely cottage-based and the moneylenders played an important role in financing fabrics
production and marketing. The East India Company through agencies gave weavers loan as
earnest money. With the passage of time the earnest money lending system, became an
adverse and repressive for the weavers as the rate of interest was high and a very low price of
their products was paid in advance. These steps ultimately compelled them to give up their
ancestor's profession. In 1776, the number of weavers in Dhaka district was 146751 and
many more people were engaged in spinning operation in other districts. Most of the textile
industries located at Malda, Haripal and Sripur of Rajshahi, Balikushi and Kagmari of
Mymensingh. Burdwan, Khirpoy and Radhanagar of Midnapore and Shantipur and Baron of
Nadia district suffered decline throughout the ensuing period. Because, the British
government imposed tax and non-tax barriers on fabrics imported in England from Bengal.
On the other hand, the flourishing textile industry of Britain after the industrial revolution
reduced the demand for imported fabrics there. (“Industrialisation-Banglapedia”, n.d.)
Table: 01 (Cotton Industry during British Phase)
Product ● Cotton
Export: ● Raw Cotton, Muslin, Cotton fabrics
Import: ● Industrially manufactured textiles from Britain

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Impact Of Industrial Revolution ● Negative
Reason/ Policy Industrial Revolution:
● Flourishing textile industry of Britain after the
industrial revolution reduced the demand for
imported fabrics there.
Tax Policy
● British government imposed tax and non-tax
barriers on fabrics imported in England from
Bengal.
● Tax was revoked on the exportation of grains.
So, people became more interested in
agricultural work than weaving fabrics.
● A heavy duty of 75 percent was imposed on the
export of cotton from Bengal.
● Raw cotton was also imported without taxes or
tariffs to British factories, which used them to
manufacture textiles, many of which were
exported back to Bengal.
(Author, August 2019)
7.2 Silk
Bengal was the center of silk products in the British India and this industry drew much
attention of the masters from the very beginning of their rule. The East India Company set up
silk industries and took up initiative for cocoon cultivation in Bengal. The Company
developed a mechanism for export silk from Bengal to other countries. Murshidabad was the
lead cocoon growing and silk production area. A part of Murshidabad is now under Rajshahi
district. The expanding silk Industry of Bengal had to suffer a setback in mid-19th century
when it failed to face the competition with the cheap silk yarns imported from China and
Japan and the low-priced alternative fabrics manufactured in England. (“Industrialisation-
Banglapedia”, n.d.)
With the course of time, the British East-India Corporation entered the region and took part in
the silk manufacturing and export process. Sometime later during the early 20th century
Bengal Silk was pushed out of the South Asian Markets due to technological stagnation and
the epidemic silkworm disease. (“Silk of Bengal”, n.d.)
Table: 02 (Silk Industry during British Phase)
Product ● Silk
Export: ● The East India Company developed a
mechanism for export silk from Bengal to other
countries (prior to the industrial revolution)

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Import: N/A
Impact Of Industrial Revolution ● Negative
Reason/ Policy Industrial Revolution:
● Technological stagnation and the epidemic
silkworm disease in Bengal.
● Competition with the cheap silk yarns imported
from China and Japan.
● Competition with low-priced alternative fabrics
manufactured in England
7.3 Ship-Building
East India Company developed a dockyard in Kolkata for facilitating shipbuilding, repairing
of merchant ships and warships. Both the British and the local companies utilized the
expertise of dockworkers of Bengal experience in big vessel building and training in
shipbuilding and repairing. (“Port of Kolkata”, n.d.)
In the 19th Century Lord Wellesley, Governor General of India, encouraged building of
standard ships at cheaper costs for the English traders, the owners of the shipbuilding farms
of England succeeded in getting a bill passed in their favor in the British Parliament.
Discriminatory import duties were imposed on transshipments by the British and non-British
ships. The duty was heavier for goods transshipped by non-British ships.
Table: 03 (Ship Building Industry during British Phase)
Product ● Ship-Building
Export/ Import ● Building and Repairing ships for the British (Export)
● British East India Company learned from Bengal (Export)
Impact Of Industrial
Revolution
● Positive for the Industrial Revolution in England.
● Negative for the Bangladeshi industry.
Reason/Policy Industrial Revolution:
● The British East India Company duplicated bengal rice
ship designs in 1760s,
● This made significant improvements in seaworthiness and
navigation for European ships during the Industrial
Revolution.
● Bangladesh could not keep pace with the evolvement of
new technologies such as, steam engines, use of manmade
materials replacing natural building material timbers and
fuel burned power pushing away wind power, i.e. sails.

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Tax policy:
● Discriminatory import duties were imposed on
transshipments by the British and non-British ships. The
duty was heavier for goods transshipped by non-British
ships.
7.4 Salt-Trading
Large-scale enterprises developed in British period were jute, sugar and salt industries. The
East India Company government earned a lot of money from the taxes imposed on salt
trading, which ultimately created an impact, both one positive and negative, on the
contemporary socio-economic condition of Bengal. The positive impact was the enhancement
of salt production under the government's sponsorship and the negative side was the price of
salt increased due to imposition of higher amount of tax had turned the item dear to ordinary
and poor consumers. In the mid-19th country, the British government fixed the import duty
on foreign salt in such a rate that its price remained the same as locally produced salt. That
policy ultimately resulted in the process of closure of salt plants in Bengal, as the quality of
imported salt was better. (“Industrial Revolution”, n.d.)
Salt contracts were given to depots. British East India Company made sure that salt was
delivered to depots. Merchants were required to buy salt from these depots. European
companies used to export salt to other countries from Bengal.
Table: 04 (Salt Industry during British Phase)
Product ● Salt
Export/ Import ● Exported to England and Other European countries
Revolution
● Positive on the Industrial Revolution, as the East India
Company government earned a lot of money from the
taxes imposed on salt trading.
Reason/ Policy Tax
● High Tax on salt trading.
● Heavily controlled Salt export through Depots to prevent
illegal exports.
● Fixed the import duty on foreign salt in such a rate that its
price remained the same as locally produced salt.

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7.5 Sugar Trading
In the 18th century, the leading sugar producing area in British India was Benaras. Bengal
occupied the top position in the later part of the century. The price-hike of sugar in England
and the fall of sugar-producing black community in Haiti and St. Domingo created a high
demand of sugar worldwide including Britain. Taking this opportunity, the colonial rulers
began export of Bengal sugar to England and other parts of the globe. A large number of
modern steam-driven sugar mills were set up by 1830 in many places to meet up the growing
demand for sugar in the international market. However, decline started from 1846 as Bengal
sugar could not sustain in the England market due to uneven competition there. The British
government increased import duty on Bengal sugar at a very high rate and deliberately
changed the duty rule to that end. Moreover, the colonial government in India took some
measures to curb the export flow of Bengal sugar to Britain from India, which were nothing
but non-tariff barriers. Moreover, the price of sugar in the international market started
declining due to adoption of new technology having higher production capacity in the sugar
mills of Java, Mauritius and Formosa (Taiwan). As a result, the export oriented sugar
industry of Bengal ultimately suffered a total collapse, as its production cost was higher than
international market. However, the demand of sugar in the Indian domestic market was
fulfilled by the products of Bengal including local variety of cheaper and nutritious molasses,
prepared by juice extracted from date and palm trees. Finally, the sugar industry of Bengal
could survive from the threat of extinction despite of the various developments in the
international market. (“Industrialisation - Banglapedia”, n.d.)
Table: 05 (Sugar Industry during British Phase)
Product  Sugar
Export/ Import  Sugar exported to England and other parts of the globe
Revolution
 Negative
Reason/ Policy Industrial Revolution
 A large number of modern steam-driven sugar mills were set
up by 1830
 However, bengal could not keep up with the declining sugar
price in the international market due to adoption of new

16 | P a g e
technologies having higher production capacity in the sugar
mill of the global competitors.
Tax/Policy
 The British government increased the import duty on Bengal
sugar at a very high rate.
 Decline started from 1846 as Bengal sugar could not sustain
in the England market due to uneven competition there
 The colonial government added non-tariff barriers to curb
the export flow of Bengal sugar to Britain
7.6 Cottage Industry
During the British rule, the industries in Bengal especially its cottage industry had earned a
prominent feature of compressed specialization due to various limitations. Meanwhile jute
and coal industry developed. In India, specialization of caste-based craftsmen and artisans
were enriched through practice of several centuries and the standard they achieved was very
rich. The British as well as local traders contributed a lot for the development of cottage
industries. However, in many cases, local craftsmanship was discouraged, even the artisans
were physically tortured and compelled to give up their traditional occupation for
accommodating the imported goods.
British policy viewed colonies as suppliers of raw materials and purchasers of manufactured
goods. The British conquest of India coincided with the Industrial Revolution in Britain, led
by the mechanization of the textile industry. Because of the British policy of dumping
machine-made goods in the subcontinent, India’s domestic craft industries were thoroughly
ruined, and its trade and commerce collapsed. Eastern Bengal was particularly hard hit.
Muslin cloth from Dhaka had become popular in eighteenth-century Europe until British
muslin drove it off the market. (“General History of Bangladesh”, n.d.)
Table: 06 (Cottage Industry during British Phase)
Product ● Cottage Industry
Export/Import ● Machine made goods imported from England
Revolution
● Negative

17 | P a g e
Reason/ Policy Industrial Revolution
● Mechanization of the textile industry, was a result of the
Industrial Revolution, which destroyed many bengal
craftsmanship and and cottage goods.
● British muslin drove it off Dhaka muslin out of the market.
Policy
● Local artisans were forced to give up their craftsmanship
● British policy viewed colonies as suppliers of raw
materials and purchasers of manufactured goods.
8. PoliticalAspectin British Era
Bengal was very resourceful form the very beginning, and the British people realized it very
soon. Therefore, their interest was converted from trading to get possession of this territory.
So, they were focusing on getting the political power so that they can rule everything
according to their convenience and can generate more revenue. They changed the tax policy
and different business policies and it was only possible because they got a political advantage
after the win of Plassey war. British traders faced difficulties in expanding export from India
through sea especially because of Portuguese dominance, which was later curtailed by
expulsion of the Portuguese from Hughli in 1632 by Subedar Kashim Khan under the
instruction of Emperor Shahjahan. British traders had enjoyed tax and other facilities in
exports from Bengal since the period of Subedar Shah Shuja (1651) although they were given
the privilege of conducting duty-free trade only in 1717 by a special order issued by Emperor
Farrukh Siyar. The French and Dutch companies, however, were never eliminated as
exporters from Bengal. Association with traders from abroad lead to gradual development of
indigenous traders, whose business remained confined largely to shipping of local products to
foreign countries. Many such traders went to Middle- Eastern and some African countries to
open business houses there and conduct trading based on exports from Bengal.
8.1 Ruling over commercial & administrative side:
After Plassey war June 23, 1757, the East India Company defeated Nawab Siraj Ud Daulah
and became the ruler of Bengal. From that time British will implement their power and rules
all over the Bengal especially commercial sites. They change all the policies, rules and
regulations. And implement new policy system for their own benefits.
After military victories at the battles of Plassey (1757) and Buxar (1764), the EIC was
granted the diwani of Bengal – control over the administration of the region and the right to

18 | P a g e
collect tax revenue from business. (The East India Company: How a trading corporation
became an imperial ruler,2018). Indian people were not trusted thus british people did not
allow them to get involve in any kind of administrative decision.
8.2 Permission for private traders:
As after winning the battle British were in need of funds to run the business and
administrative works. So, they allowed a group of private traders to trade in the East Indies;
then they would get a charter 20 years for a nice loan to the government. As they were getting
loan easily, British government was fine to provide charter to the private traders for trading
(Rise and Fall of the British East India Company, n.d.).
8.3 Indigo and Handloom industry:
Indians were forced to produce indigo and sell it on the conditions dictated by the Britishers
after Plassey war. Indigo was sent to England and used as a dyeing agent for cloth produced
in British towns. (Impact Of British Rule On India: Economic, social and cultural, n,d,).On
that time Bengal was enriched with handloom industry, Bengal was famous for their muslins.
When British rule came, they stopped handloom industry. They closed a lot of the handloom
center and shifted in to industrial sector mainly they were focusing in producing indigo as
they were earning a high profit by using indigo to produce cloths.
8.4 Customs Duty and Tax Rule:
British did not pay any customs duty. They used their political powers to relax rules for them.
On the other site, they used to take the products from here in a very cheap price and could sell
the products with a higher benefit in the international market. But Indian economy was
getting affected by these in a negative manner.
8.5 Control Over National Product:
The U.S. Civil War boosted cotton production in India. The cotton price was boosted from 10
cents to $1.85 during the 80’s (Eugene R. Dattel, 2008). So indian people were forced to
produce cotton and British people used to take a huge supply from here. The British further
replaced India's political aristocracy with a bureaucratic military adept at maintaining law and
order. This led to a reduction in fiscal overheads, leaving a larger share of national product
available to the British while simultaneously stripping self-governance rights and natural
products from the Indian people (Impact Of British Rule On India: Economic, social and

19 | P a g e
cultural, n,d,). Resentment against the British mounted in the mid-1800s. In southern India,
for example, the British and the French allied with opposed political factions to extract Indian
goods for their respective domestic uses.
8.6 Financial Support for Further Expansion:
Military advantages made the EIC a powerful player in local conflicts and disputes, as did the
financial support offered by some local Indian merchants and bankers, who saw in the EIC’s
increasing influence an unmissable commercial opportunity. And British used to use their
money for the expansion of their own business. (Impact Of British Rule On India: Economic,
social and cultural, n,d,). Charter was prolonged again in 1793 (until 1814), a new proviso
was inserted respect for the rights of non-company traders , who were now allowed to carry
their goods on EIC ships, although not much independent trade was done through this
window of opportunity.
9. Historic Business Reflection:
9.1 Ancient Era:
A few noticeable business strategies from the Ancient Era had been carried forward to the
British phase. Agriculture, which had been one of the key players in ancient era due to India’s
competitive advantage had still played a strong role in the British phase and had consolidated
further, where goods had been produced and used for international trade purposes. Moreover,
the textile industry established in the ancient phase had also been quite prosperous until the
beginning of the British era where it was gradually brought to an end. Lastly, the sea routes
established through the Mediterranean Ocean and Indian Ocean had been intensely used by
the British in India for international trade purposes with Europe and other nations. (Author,
August 2019)
9.2 Muslim Era:
During the Muslim Era, agricultural industry had been consolidated further which had
persisted British phase where different kinds of pulses, wheat, rice, sugarcane, jute, cotton,
silk, muslin indigo, opium and spices had been produced and exported to other nations for
international trade purposes. In between these eras, India had been the primary producer of
agricultural products for various countries due to its geographical advantage. Textile industry
being one of the top industries in Muslim Era had been one of the major sources of revenue

20 | P a g e
during the British Era. Foreign and coastal trade had been highly developed in the Muslim
Era which had been one of the common medium of exchanging goods and services between
countries in the British Era. (Author, August 2019)
9.3 Mughal Era:
The Mughal Era which had been quite rich in agricultural and textile sectors had also served
the British to accumulate a major source of revenue. This era had brought about their own
law and order within the country, which influenced the British too to invade the subcontinent
with the same strategy upon the end of the Mughal Era in order to favor themselves. (Author,
August 2019)
9.4 European (Non British)
In the European (Non-British) era there were some business strategies which continues to the
British Rule. In the European Era, Portuguese started exporting Muslin, cotton and silk goods
to Europe that continued in the British Rule. The French also exported goods in Europe in
this time. In the mid seventeenth century, the British found Dutch to be their main competitor
in the region, which inevitably led to serious confrontations between them. (Author, August
2019)
9.5 Reflection of British Era in Modern Bangladesh: an observation
Britain left subcontinent in 1947 and Bangladesh took independence from Pakistan in 1971.
It’s been a long time since Britain left the country but we observe that, a significant impact of
British Rule and Establishments are still existent in Modern Bangladesh.
9.5.1 Infrastructure
If we talk about the infrastructure, we see that, The University of Dhaka was establish during
British Raj and this University is still the best public university of the Country and it has been
a major part of the modern Bangladesh History. The universities established during the
British Era still exist in multiple locations all over the city and have been ranked amongst the
top few universities as of today. These universities offer education to both Indians and
students from overseas with both Undergraduate and Postgraduate degrees under several
disciplines. University of Calcutta has approximately 22,520 students (University of Calcutta,
n.d.), University of Madras has around 4,000 students (University of Madras, n.d.) while
University of Mumbai (previously called Bombay) has about 549,432 students (University of

21 | P a g e
Madras, n.d.). All these three universities makes education available to international students
as well through quota systems or fellowship programs. University of Calcutta offers quota for
International students from all nations. (Basu, 27 April 2017). University of Mumbai also
offers services to International students. (Kamble, 2018, p. 1-6). In a similar manner,
University of Madras also offers 15% quota for foreign students in all departments. This
serves as international business for the universities as they gain currency from foreign
countries which eventually helps in ensuring trade surplus in the long run. (International
Centre for University of Madras (ICOM, n.d.). Most of the Road Maps of the Bangladesh
were developed by the British Raj and The Railways which are playing a very important role
in the economy of Bangladesh were created by the Britain. The infrastructure of Bangladesh
Supreme Court was established during the British Period. Which is still the center of legal
constituency of the Bangladesh. Not only that, Bangladeshi law is still largely colonial in
nature as well as spirit. A truly self-defined legal system remains a distant dream. Only in
2012 did the Supreme Court allow officially the national language, Bangla, to be used in
court proceedings and judgments. Ridwanul, Arpeeta-2017
9.5.2 Business
Bangladesh has a huge portfolio in Tea Sector which was introduced by the British people.
They taught the people of subcontinent how to irrigate tea and later it has become a good
source of income for the Bangladesh. Britain taught the people of the subcontinent how to
utilize the huge labor in order to ensure a significant productivity especially in Agriculture
and Textile sector. The RMG sector of modern Bangladesh in the biggest contributor to the
economy of the country.
We saw that, East India Company established small factories in the coast-lines, this kind of
investment is now called Foreign Direct Investment and the Government of Bangladesh is
very reasonable as long as FDI is concerned.
9.5.3 Mind-set
Though it has been a long time since the Britain left the country. But they injected their mind-
set in the in the people of the country. Using political power in business was very obvious in
British period and it is still the most effective strategy used Business houses of Modern
Bangladesh. The power gap and top down approach of the society were there in British
Period and they are still highly existent in Modern Bangladesh. But the good thing is, youth
of Modern Bangladesh have different mind-set toward the society and economy.

22 | P a g e
Below is the summary of British phase.
Table: 07 (Summary Table of British Phase)
Product Country Alliance Infrastructure Trade Strategy Political
Export:
Black Pepper,
Cotton, Jute, Tea,
Coffee, Wheat, Oil
seeds, Opium,
Sugarcane,
Tobacco, Indigo
Import:
Cloth, Railway
hardware,
Military hardware,
Heavy metals,
Machineries
Export:
Britain
(Maximum),
Middle-East
Africa
USA
France
Portugal
Import:
Britain
British and the
French allied with
opposed political
factions to extract
Indian goods for
their respective
domestic uses.
1. First railways
2. Development
of Suez Canal
3. Developing
Agricultural land
4. First telegraph
system
5. Education
Social and Political:
1. Divide and Rule game,
2. Giving privileges to
Disloyal people of Mughal
Empire
3. Illegal Political Power
Economical and
Commercial:
1. Unfair trade policies to
favor British,
2. Eliminating local and
Foreign merchants,
3. Free trade facility to
Britain
4. Wealth Drain to Britain
1. Duty-free trade.
2. Collection of tax revenue
from business.
3. Private trading started
based on export.
4. Forced to produce indigo.
5. Handloom industry was
harmed.
6. Expansion of business
through loan.
7. EIC ships to trade.

23 | P a g e
10. Strategic Implication & Lessons
During the course of study, we got to learn and observe some very important facts, issues,
strategies related to Internal Business of the above mentioned British Period. Well, they are
positives and negatives both. At one side, we learned how trade and business policies could
help industries grow and on the other side, we came, to know about the impacts of politics in
International Business. Let us have an insight what we have learned and observed from this
study,
10.1 Economy- Products, Business Forms, GDP
We came to know about different products used to be manufactured and traded different
corners of the world. Labor was cheap and highly available which lead to a huge production
of agriculture and textile products and cottage industries. Besides, how export and import
happened in that period and also came to know that Foreign Direct Investment (FDI) which is
one of the most effective components of modern economy was available in that time. Cheap
and skilled labor and fertile lands were the main strength of the economy in that time.
10.2 Policies- Impact on International Business
National Trade Policies are play a very crucial role in the development of economy of a
country. In our study, we have seen how policies helped some businesses grow and also, how
they destroyed other industries. They imposed higher tax and duty on some business to
control and limit the industry and on the other hand, they have revoked tax and duty from
other business to help the industry grow. Basically, British made the policies negatively to
favor the Britain, but still there is a learning that, good policies are “must” for the betterment
of the economy.
10.3 Technology and Infrastructure- Factors that can take the Economy to another level
When we talk about International Business, few questions like “how the shipment will
happen?” “How will the communication take place?”, “which port will be used” and so on.
These questions aggregately indicate the infrastructure and the technology available in the
country. British built Canals, Roads and Railways, which played significant roles in their
trades. We have seen how the use of Telegraph brought a new pace in the communication and
thus enriched the trades to a greater extent. Technology is a breath of modern business. We

24 | P a g e
have seen during the Industrial Revolution, how the steam engines, fuel burned power,
manmade building materials opened new windows of business for the British people.
10.4 Politics- governance and relations
Though British have used the political power unethically for their own interest, still we have
an understating about he importance of political effects in the business. Due to a good
relations British have had taken access into many provinces and made investment. Local
Merchants got financial support from British Govt. which is a benefit of good relation. Good
governance will ensure proper implementation of policies which will bring effectiveness and
efficiency of the Business.
11. Conclusion
The export-oriented foreign trade of Bengal had little impact on the economy in terms of
development of a local market or of an improved production base to meet increasing demands
for export products. Meanwhile, as the population continued to increase local consumption
and development needs started pushing import demands. Nevertheless, the territory did not
receive adequate attention as far as the local production capacity was concerned. The
Industrial Revolution in England and the advent of science and technology in other parts of
the world resulted in a situation when products of Bengal gradually lost the international
market, while at the same time; the territory became dependent on import of manufactured
products from abroad. East Pakistan was victim of this process that continued throughout the
British period and even after 1947, when the central government of Pakistan pursued a policy
of exporting raw materials and primary/agricultural products from the territory without giving
adequate attention to the development of an indigenous manufacturing base.

25 | P a g e
12. References
12.1 Journals
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and the world through the ages. Economic History. 1-19.
2. JH Broomfield, Elite Conflict in a Plural Society: Twentieth-Century Bengal,
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Islam (ed), History of Bangladesh 1704-1971, 3 vols., Dhaka, 2nd edn, 2000.
3. Herbert, W. (1836). The History of the Twelve Great Livery Companies of London. 2. 361–
363.
12.2 Websites
4. Aggrwal,M.(2018). Social and Economic Impact of British Rule in India. Retrieved from
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worst genocide in human history for profit.
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of-education-during-british-period-in-india-1445314601-1
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UJJ4sFLnt_rJA_6xdmp79OQS0y13i6yJqZfRsK0OOBYF5rlk
7. Jhunjhunwala, V. (2018, April 19). What are the good things done by the British to India
and Indians during the British Raj? Such as social reforms, science and technology,
infrastructure, and human resources development? Retrieved July 12, 2019, from
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during-the-British-Raj-Such-as-social-reforms-science-and-technology-infrastructure-and-
human-resources-development

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8. Kwat, N. (n.d.). Indian Economy during British Period. Retrieved July 20, 2019 from
http://www.economicsdiscussion.net/indian-economy/indian-economy-during-british-
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9. Postal History of India (n.d.). Retrieved July 20, 2019 from
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10. Rathi, A. (2017, August 15). The lies Brits tell themselves about how they left behind a
better India. Retrieved July 12, 2019, from https://qz.com/india/1053297/independence-day-
what-good-did-the-british-do-for-india-during-the-raj/
International Business History in British Era: Bangladesh Context
11. Rise and Fall of the British East India Company. (n.d.). Retrieved July 20, 2019 from
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12. Role of Telegraph in Freedom Struggle of India. (n.d.). Retrieved July 20, 2019 from
https://www.gktoday.in/gk/role-of-telegraph-in-freedom-struggle-of-india/
13. “Shipbuilding Industry” (n.d.). Retrieved July 19, 2019, from
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14. Shirsath, P. B. (2009, January 1). Irrigation Development in India: History & Impact.
Retrieved July 19, 2019 from http://indiairrigation.blogspot.com/2009/01/history-of-
irrigation-development-in_01.html
15. Staya, L.D. (n.d.). British Imperial Railways in Nineteenth Century South Asia. Retrieved
July 19, 2019 from
http://www.indiaenvironmentportal.org.in/files/British%20Imperial%20Railways.pdf
16. Sur, B. (2017, June 30). The Dutch East India Company through the Local Lens:
Exploring the Dynamics of Indo-Dutch Relations in Seventeenth Century Bengal.
17. Teabox. (2017, April 5). An Overview: Tea Industry In India. Retrieved July 12, 2019,
from https://tea101.teabox.com/brief-history-indian-tea-industry/
18. Tharoor, S. (2017, March 8). 'But what about the railways ...?' The myth of Britain's gifts
to India. Retrieved July 19, 2019 from
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19. The East India Company: How a trading corporation became an imperial ruler. (2018,
January 18)
20. “Battle of Buxar” (n.d.) Retrieved July 19, 2019, from
https://en.wikipedia.org/wiki/Battle_of_Buxar
21. Company rule in India. (n.d.). Retrieved July 12, 2019, from
https://en.wikipedia.org/wiki/Company_rule_in_India
22. Economy of India under the British Raj. (n.d.). Retrieved July 12, 2019, from
https://en.m.wikipedia.org/wiki/Economy_of_India_under_the_British_Raj?fbclid=IwAR2ni
mz70Pen2KCIfaFGaLIkKsK9JrcK70A0oG8S90FAgKo427OFUng8ttc
23. E. R. D. (2008, July). Cotton and the Civil War. Retrieved from
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24. History of Bengal. (n.d.) Retrieved July 19, 2019, from
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25. “History of the British salt tax in India” (n.d.) Retrieved July 19, 2019, from
https://en.wikipedia.org/wiki/History_of_the_British_salt_tax_in_India
26. Hoque, M. S. (n.d.). Bangladesh History - British Rule in Bengal. Retrieved from
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27. Industrialisation – Banglapedia. (n.d.) Retrieved July 19, 2019, from
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28. Industrial Revolution. (n.d.). Retrieved July 19, 2019, from
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29. International Centre for University of Madras (ICOM). (n.d.). Retrieved 22 August 2019
from https://www.unom.ac.in/ucir/index.html
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31. Muslin trade in Bengala. (n.d.). Retrieved July 19, 2019, from
https://en.wikipedia.org/wiki/Muslin_trade_in_Bengal

28 | P a g e
32. “Nawabs of Bengal and Murshidabad.” (n.d.). Retrieved July 19, 2019, from
https://en.wikipedia.org/wiki/Nawabs_of_Bengal_and_Murshidabad
33. Port of Kolkata. (n.d.). Retrieved July 19, 2019, from
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34. Shipbuilding in Bangladesh. (n.d.). Retrieved July 19, 2019, from
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35. Suez Canal. (n.d.). Retrieved July 19, 2019, from
https://en.wikipedia.org/wiki/Suez_Canal
36. Szczepanski, K. (2019, August 09). How British Rule of India Came About-and How It
Ended. Retrieved from https://www.thoughtco.com/the-british-raj-in-india-195275
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38. Textile manufacture during the British Industrial Revolution (n.d.). Retrieved July 19,
2019, from
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39. University of Calcutta. (n.d.). Retrieved on 21 August 2019 from
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https://www.4icu.org/reviews/2136.htm
41. University of Mumbai. (n.d.). Retrieved on 21 August 2019 from
https://en.wikipedia.org/wiki/University_of_Mumbai
12.3 Newspaper & Newsletter
42. Basu, S. (2017, 27 April). Calcutta University to add 350 seats for foreign students.
Retrieved 22 August 2019 from https://timesofindia.indiatimes.com/city/kolkata/cu-to-add-
350-seats-for-foreign-students/articleshow/58388919.cms
43. “General History of Bangladesh” (n.d.). Retrieved July 19, 2019, from
http://www.newsletter.com.bd/history_bangla.html
44. Silk of Bengal. (n.d.). Retrieved July 19, 2019, from

29 | P a g e
https://www.thedailystar.net/lifestyle/cover-story/silk-bengal-576484
12.4 Circulars
45. Kamble, D. (2018, 3 March). University of Mumbai. (Report No. REG/ICC/2017-18/5).
Mumbai. University of Mumbai.

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