Question

Explain decline of Indian Trade​

Answer 1

Answer:

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Among imports, the decline was led by transport equipment, gold, precious stones, electronic goods and petroleum. ... In April-December 2019-20, India's exports slipped 1.96% on year to $239.29 billion while imports fell 8.9% to $ 357.39 billion, leaving a trade deficit of $118.1 billion

★due to structural factor

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Answer 2

1) Naval dominance of European powers stifled the freedom of Indian traders like Virji Vohar and Mulla Abdul Ghafur

2) European fought amongst themselves to eliminate competition. The British emerged as winners in this struggle.

3) Loss of control over trade coupled with loss of political power led to enslavement of India.

Hope it helps you