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FOREIGN TRADE (effect (exporter of primary products (raw silk, cotton,,…
FOREIGN TRADE
effect
exporter of primary products
raw silk
cotton,
wool,
sugar,
indigo,
jute etc
importer
consumer goods
cotton, silk and
woollen clothes
capital goods
light machinery
more than half of India’s foreign trade was restricted to Britain
rest allowed few countries
China
Ceylon
Persia(Iran).
Monopoly of Britain over foreign trade
Suez Canal increased British control over trade
characteristic
generation of
a large export surplus
effect
essential commodities scarcity in the domestic market
no flow of
gold or silver into India
use payment of British officer ,war and import by Britain
drain of India wealth