'Composition of foreign trade of any country tells us about the nature of commodities that are exported and imported.' What can you state about the composition of foreign trade at the time of Independence?
Download our app for free and get started
India's foreign trade under the British rule is described as below:
- The British followed a typical colonial pattern of trade in India, where it was made to serve their interests.
- India exported raw materials to the home country of the British for their expanding industries.
- India was also developed as a market for the finished goods of the British industries. Thus, India was reduced to being a source of food for the British, a supplier of raw materials for the British industries and a market for their finished products.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionWhat was the two-fold motive behind the systematic de-industrialisation effected by the British in pre-independent India?
- 2View SolutionWhat were the main reasons for slow growth of population during British rule?
- 3View SolutionDiscuss the impact of decline of Indian textile industry on Indian economy.
- 4View SolutionExplain the objectives of Britain for developing the railways in India.
- 5View SolutionWhy is Suez Canal considered to be one of the most important waterway in the world? Explain.
- 6View SolutionExplain any three positive contributions made by the British in India.OR
Write any three positive contributions made by the British in India. - 7View SolutionHow did the downfall of the kings of India lead to the downfall of handicraft industries?
- 8View Solution"The colonial era was responsible for the decline/ ruin of traditional handicraft industries." Accept/ refute the above statement.
- 9View SolutionCould British follow an industrial policy beneficial for Britain as well as India? Explain.
- 10View SolutionHow did railways helped people when famines occurred during the colonial period?