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Dadabhai Naoroji famously known as "Grand Old Man of India". He was born on the 4th of Sep. 1825 to a Paris family in Bombay. He was a great public figure during 1845-1917 as he was a legendary Indian political, social leader, academician & intellectual.
He played a major role in privation of Indian National Congress with other leaders like Dinshaw Edulji Wacha & A.O.Homes. Dadabhai Naoroji became the first Asian man to be elected in British Parliament in 1892 and he was the first Indian to become a professor at the Elphinstene Institute, Bombay, where he taught mathematics & natural philosophy.
Dadabhai Naoroji widely known for his unfavorable opinion of the economic consequences of British rule in Indian & he was appointed maximum time as a President in 1886 Calcutta, 1893 from Lahore & 1906 again from Calcutta of INC which led the nationalist movement in India. He founded the London Indian Society in the year 1865. One of the most important decisions of Dadabhai Naoroji that changed the cause of the freedom struggle for India, was the setting up of the East India Association which eventually was one of the predecessor associations of the INC. He was also a participant of the Indian National Association that was established by Sir Surendranath Banerjee, an organisation that morphed into the Indian National Congress in the last year.
In the year 1901, he published 'Poverty & un-British Rule in India'. The book was about how the British plundered the resources of Indian that consistently led to the rise of destitution & misery in India & happens to be one of the most important texts in the context of the Indian Independence Movement.
He came up with 'Drain of Wealth' theory & poverty. As the economist in him allowed to closely analyze what he called the drain of wealth from India by British Administration. The prime reason for his analysis of Dadabhai Naoroji rested of the premise of his endeavour to comprehend & the not profit of India along with the effects on it on the amount of the various avenues of colonial gout. After deep the analysis, he brings out six major postulates that justified how British adm. plundering its wealth they were as follows:-
(a) that enables such exploitation was due to nature of administration of India;
(b) the lack of the influx of immigrants in India & directly caused the inflow of labour & capital;
(c) major expresses of the army of the British
(d) highlight spoke of the miscellaneous expenses that arose on a/c of the building of England.
(e) depicted how India in the name of free trade was being pondered of its resources without any kind of compromise.
(f) final says of how there was a drain in the capital as most income cameos were foreign national themselves & by the virtue of them returning to their own lands.
Dadabhai Naoroji breathed his last breath on 30th June 1917. His contribution to his country and countrymen was immense. He not only fought the fight for independence on his home soil but also played a key role in intervention among the British authorities. especially in the British Parliament as an official Member of Parliament. He was the first who made Swaraj as a national demand. He wrote many texts that mostly dealt with India & its socio-economic & the political situation under the British Raj.