The Legacy of Colonialism on Economic Laws in India Exploring the Impact of Liberalisation Policies on Economic Development

Abstract : This paper explores the impact of colonialism on economic laws in India, and the effect that this has had on the country's economic development. The British colonial government established a legal and institutional framework that was designed to serve their interests and extract resources from India, rather than promote the economic development of the country. The effect of this continued even after independence, as India struggled to modernize its economy and overcome the challenges of poverty and inequality. Although with the introduction of liberalization, the economy was boosted and many significant changes were brought. They have also had negative effects, such as the collapse of traditional industries and an increase in inequality. The paper also has a comparative analysis of the economy of India and Botswana to understand the level of growth post-colonialism. The paper finally discussed the current status of economic laws and policies in India and how changes can be brought to help improve the current situation