Before the arrival of the East India Trading company, Dhaka (or Dacca as it was then known) was an affluent commercial city which produced some of the worlds finest muslins and textiles. Soon after the arrival of the British, much of the manpower and natural resources in and around Dahka were exploited, allowing the British to make vast profits. Over time, because of Britian's free trade system which had no export or import tariffs, local industries in Dhaka and throughout India couldn't compete with the production capabilities of British factories. British manufactures quickly drove their Indian competitors from the European markets and it wasn't long before India, once one of the largest exporters of cotton in the world, was being flooded with cotton, resulting in destabilizing economic shifts, massive unemployment, and famine. In just 13 years, between 1824 and 1837, the exports of British cotton to India went from one million yards to sixty-four million yards, while at the same time the population of Dhaka shrunk from 150,000 to 20,000. 

Under British Rule, India was subject to what has been deindustrialization, or the down-grading of its economic facilities. Through the use of power, military might, and economic coercion, the British Empire was able to keep India under it's thumb, all while preventing it from developing it's own industries and natural resources. It's a familiar tale that can be found among nearly all countries or regions colonized by European nations. The results of years of colonization are still evident today in India where massive portions of the population live in extreme poverty. Much of what could be called generational wealth has been stolen from these peoples by European nations and they've never been recompensed. As a result, they're decades, and even centuries, behind first world countries when it comes to economic power and development. 

Embree, Ainslie T. “British Impact in India: The Economic Impact of Foreign Rule and Free Trade.” Encyclopedia.com, Encyclopedia.com, www.encyclopedia.com/international/encyclopedias-almanacs-transcripts-an....

Marx, Karl. “The British Rule in India.” The British Rule in India by Karl Marx, 2005, www.marxists.org/archive/marx/works/1853/06/25.htm.