Question

Throw light on the state of India's foreign trade during the colonial period. how did it lead to drain of India's wealth
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Answer 1

Answer:

Foreign trade of India during the colonial period generated a surplus export due to excess exports. However, this surplus export did not flow any silver or gold into India. Rather, this surplus export was utilized to make payments

Answer 2

Answer:

During this period, Britain held the monopoly of over India’s imports and exports. Therefore, most of the foreign trade was restricted only to Britain and other was while the rest half was allowed to trade with other countries like Ceylon (Sri Lanka), China, and Persia (Iran).

India was a large exporter in the colonial period, however, it did not affect the country’s economy. Commodities like food grains, clothes, kerosene hit the country hard with its scarcity.

Explanation:

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