Foundation of Indian Economics

IN the course of a paper read by Mr EB Havell on “The Foundation of Indian Economics” at a meeting of the East India Association on March 22, he rightly attributed the decadence of India’s industry and the stagnation of her creative powers to the breakup of the constitution of the village communities. This break up began in the Mughal times and continued under British rule. He said the great problem was to use the economic force more effectively and to restore the vitality of Indian village life. Lord Hardinge has already stated that the question of Indian industrial revival has been engaging his attention. The restoration of village autonomy long before enjoyed by the people by the grant of executive powers to the people in local matters would automatically infuse life into home industries and organisation to support them. If Government adopts protection to Indian industries and an efficient organisation for industrial training, the problem would be solved. Mr. Havell said that India would challenge the industrial supremacy of the world when after reviving village life, the electrical energy and sun power available were utilised for industrial ends.