Question

Indicate the volume and direction of trade at the time of independence

Answer 1

At the time of independence, India was an exporter of primary products; like raw silk, cotton, wool, sugar, indigo, etc. Additionally, India was a net importer of finished goods from Britain. Britain was the main trading partner of India. However, trade also continued with China, Sri Lanka and Iran.

Answer 2

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➠ Before independence India had extensive trade relations with other countries of Asia and Europe.

➠ India's exports were cotton textiles, raw silk, silkfabrics,Indigo,rice,wheat ,sugar ,Pepper, and spices , precious stones.

➠ Lac, mica , opium and drugs Imports consisted of pearls ,wool , dates, dry fruits, glass, iron and steel , copper, lead ,tinhorn paper , perfumes etc..,

➠ The cotton textile of India enjoyed a world wide reputation and the demand for cotton textiles was all over the world.

➠ India exported more than it imported it had a favourable balance of trade . Large quantities of gold and silver flowed into India .

➠ Hence , India enjoyed a very important and unique position in world trade.

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