Question

Discuss the state of indias foreign trade during the colonial rulr.

Answer 1

$\huge\fbox\colorbox{lime}{❥Answer}$

Foreign trade of India during the colonial period generated a surplus export due to the excess exports. However, this surplus export did not flow any silver or gold into India. Rather, this surplus export was utilised to make payments for: i. The costs made for the office set up by the colonial government in Britain.

Answer 2

Foreign trade means the exchange of goods and services between two or more countries/borders or territories. From the time of independence, India has been one of the important trading countries, exporting primary items like cotton, raw silk, sugar, wool, jute, indigo, etc. Moreover, it is an importer of finished consumer goods like woollen clothes, cotton, silk, and capital goods like light machinery manufactured in Britain.