Question

Which of the following statement(s) is/are correct about the British Empire's exploits in India during the aftermath of the Great Depression?

• A. The bilateral trade treaties ensured India to give preference to British goods over indegenous goods.
• B. The government of British India also raised revenue tariffs to gain foreign currency.
• C. Large quantities of gold were exported from India to meet Britain’s gold requirement.
• D. The British made imports expensive.

Answer 1

Answer: (A), (B), (C)

The correct options are
A The bilateral trade treaties ensured India to give preference to British goods over indegenous goods.
B The government of British India also raised revenue tariffs to gain foreign currency.
C Large quantities of gold were exported from India to meet Britain’s gold requirement.

In 1932, at an economic summit in Ottawa, bilateral trade treaties were signed between Britain and the member states of the British empire where India agreed to give preference to British goods over indegenous goods. As a result of this the indegenious manufacturing units suffered.
The British did not stop at just discriminatory trade policies. The government of British India also raised revenue tariffs to gain foreign currency.
Large quantities of gold were exported from India to meet Britain’s gold requirement.
The British made imports cheaper by overvaluing Indian currency. This policy intensified the political agitation against British rule in India.