Oxfam Report Claims British Colonial Rule Extracted $64.82 Trillion from India

The report highlights the enduring impact of colonialism on global inequality and calls for reparations and systemic changes.

Oxfam's report, 'Takers, not Makers,' estimates that $64.82 trillion was extracted from India by Britain between 1765 and 1900, with over half benefiting the richest 10% in the UK.
The report attributes the decline of India's industrial output, from 25% of global production in 1750 to just 2% by 1900, to British protectionist policies that stifled Indian industries.
Oxfam links modern global inequality to colonial practices, citing the creation of multinational corporations during the colonial era and the continued exploitation of the Global South by these entities.
The report also highlights the long-term effects of colonial policies, including formalized caste divisions, resource extraction, and the Bengal famine of 1943, which caused millions of deaths.
While the report calls for reparations and systemic reforms, critics argue that the figures and methodology are overstated and challenge the practicality of such proposals.