Question

Write about Indian trade ,colonialism and global system word limit more Than 120words

Answer 1

Answer:

Indian trade, colonialism and global system in 19th century:

(i)fine cotton produced in India were exported to Europe. With industrialisation, British cotton manufacture began to expand, and industrialists pressurised the government to restrict cotton imports.Tariffs were imposed on cloth imports into Britain. Consequently, the inflow of fine Indian cotton began to decline.

(ii) British manufacturers also began to seek overseas markets for their cloth. Indian textiles now faced stiff competition in other international markets.

(iii)While exports of manufactures declined rapidly, export of raw materials increased. Indigo used for dyeing cloth was important export.

(iv)British manufactures flooded the Indian market. Food grain and raw material exports from India to Britain and the rest of the world increased. But the value of British exports to India was much higher than the value of British imports from India.

(v)Thus Britain had a ‘trade surplus’ with India. Britain used this surplus to balance its trade deficits with other countries – that is, with countries from which Britain was importing more than it was selling to.