The Great Depression had a severe impact on the Indian economy, primarily through its integration with the global economy under British rule. Between 1928 and 1934, Indian imports and exports were nearly halved. As international prices crashed, the prices of Indian agricultural products plummeted. Peasants and farmers were the worst hit. While agricultural prices fell sharply, the colonial government refused to reduce its revenue demands, trapping farmers in debt. Across India, peasants increased their indebtedness, being forced to sell their savings, land, and valuables like gold and silver to meet expenses. While the depression was devastating for rural India, it was less so for urban dwellers with fixed incomes, like landowners who received rent.