The Company’s record cannot be separated from its human cost. The Bengal famine of 1770 killed an estimated ten million people, approximately one third of the province’s population, and was exacerbated by the Company’s insistence on collecting land revenue even as crops failed. The Indian textile industry, once the finest in the world, was systematically undermined: Bengali weavers were forced to sell at fixed prices while British manufactured goods were imported duty-free.
The opium trade was cultivated under Company monopoly in Bengal and sold into China through private merchants, generating enormous profits. Forced cultivation of indigo displaced food crops. The historian William Dalrymple has characterised the Company as a corporate state that pioneered the techniques of aggressive colonial expansion. The economist Utsa Patnaik has estimated the total drain of wealth from India to Britain at $45 trillion in modern terms, though this figure and methodology are disputed by other historians.
The historical debate continues. Some historians note that the Company built roads, codified laws, and created institutions that outlasted it. Others argue that these achievements were incidental to exploitation. An honest account must acknowledge both the scale of the destruction and the complexity of the legacy.