UK's Richest 10% Extracted Half Of India's Wealth During Colonialism: Report

The colonial extraction of wealth from India during 1765 to 1900 by the British Empire amounted to $64.82 trillion. This wealth went in the hands of the richest 10% of Britons, who received $33.8 trillion of the wealth, says Oxfam's latest report, which was published on Monday.

Oxfam in its report titled, “Takers, not Makers” mentioned that several elitist people from the UK owe their wealth to the compensation made by the government to rich slave owners during the time when the racist system was abolished.

The report further mentioned that 52% of the above-mentioned wealth ended up in the hands of the UK’s richest individuals, followed by the UK’s emerging middle class, which gained 32% of the wealth.