Question

Indian trade played an important role in the late 19th century in world economy. analysis statement for 3 marks

Answer 1

Dear Student

The role on Indian economy in the nineteenth century world economy can be explained as follows :

• India was a major exporter of raw materials to Britain.
• Indian markets were flooded with the British manufactured goods.
• There was a trade surplus for Britain while trading with India. So this trade surplus was used in many ways.
• Not only with Britain, India also traded with China mainly in opium.

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