Negative effects (as nationalists argued)

Drained Indian wealth to Britain. India ran a chronic trade surplus with Britain that was used to pay for British administration, military expenses, and Indian "home charges" to British officials.

Destroyed the Indian cotton textile industry. India had been the world's largest exporter of cotton cloth in 1750; by 1900 India was importing British cloth and exporting raw cotton.

Caused or worsened catastrophic famines. The Bengal Famine of 1770 (under Company rule) killed perhaps 10 million people. The famines of 1876-1878 and 1899-1900 killed millions more, while grain continued to be exported to Britain. The Bengal Famine of 1943 (during WWII) killed perhaps 3 million.

Imposed a racial hierarchy that excluded Indians from senior positions in their own country

Forcibly disrupted communities through massive economic and social changes

Drained capital that might have funded Indian industrialization