Question

Indian trade had played a crucial role, in the late 19th century world economy.
Analyse the statements​

Answer 1

Answer:

Really, India played a crucial role in the late 19th century world economy. Britain had a 'trade surplus' with India.

Britain used this surplus to balance its trade deficits with other countries. India also provided raw material to the developing industries of the world.

Answer 2

India also supplied raw material for the world's emerging industries. India is a major finished goods market: in particular cotton textile.

Explanation:

• While India played a key role in the world economy of the late 19th century. The UK had a 'financial surplus' with India. The surplus was used by Britain to offset its trade deficits with other countries. India also supplied raw material for the world's emerging industries.
• In the nineteenth century, hundreds of millions  of Indian and Chinese labourers went into rood and railway building ventures around the world to work on plantations in mines anc.
• In the late 19th century world economy, India played a critical role. Britain had a trade surplus with India. The surplus was used by Britain to offset its trade deficits with other countries.

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