Question

what was the importance of the Indian trade for the British? ​

Answer 1

Answer:

The importance of Indian trade for the British :

⚫ᴛʀᴀᴅᴇ sᴜʀᴘʟᴜs

British had a Trade Surplus with India.

British used this Surplus to balance its trade deficit with other countries.

⚫ʜᴏᴍᴇ ᴄʜᴀʀɢᴇs

Britain's trade surplus in India also helped to pay the so called home charges that included private remittance by British Officials and traders, interest payments on India's external debt and pensions of British officials in India.

⚫ᴍᴀᴊᴏʀ sᴜᴘᴘʟʏ ᴏғ ᴄᴏᴛᴛᴏɴ

India remained a major supplier of raw cotton to British which was required to feed the cotton textile industry in Britain.

⚫sᴜᴘᴘʟɪᴇʀ ᴏғ ɪɴᴅᴇɴᴛᴜʀᴇᴅ ᴡᴏʀᴋᴇʀs

Many indentured workers from Bihar, UP, Central India migrated to other countries to work in mines and plantations.

______________________

Answer 2

Answer:

Under the British Empire, Indian commerce witnessed the beginnings of a commercial system that contributed to the steady deterioration of the Indian economy. The trading strategy that was implemented was exceedingly exploitative, catering solely to the interests of the British market and proving extremely harmful to the Indian economy.

The importance of the Indian trade for the British-

• The different commercial practices they implemented in India benefited only the British and were very harmful to Indian interests.
• The British turned to indigo production in India in order to obtain the dye at a lesser cost and ship it back home, and the situation in spice trafficking was highly exploitative.
• Trade surplus- With India, the British had a trade surplus. The British exploited their surplus to offset their trade imbalance with other countries.
• Home charges- Britain's trade surplus in India also contributed to the payment of "home costs," which comprised private remittances by British officials and businessmen, interest payments on India's foreign debt, and pensions for British officials in India.
• Majority supply of cotton- India remained a key supplier of raw cotton to the British, which was needed to support the cotton textile industry in the country.
• Supplier of Indentured workers- Many indentured labourers from Bihar, Uttar Pradesh, and Central India emigrated to work in mines and plantations in other countries.

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