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What was the condition of the foreign trade of India during the colonial period? |
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Answer» After colonial exploitation of the Indian economy, India became a major exporter of primary goods of raw material (such as raw silk, cotton, wool, jute, indigo, sugar, etc.) and a major importer of goods produced by British industries (such as cotton, silk and woolen clothes). Most of the capital goods produced in England were included in items of our import. This condition of exports and imports during the British rules tells the saga of the backwardness of the Indian economy. |
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