Which of the following statements is true regarding Britishers in regard to "Foreign Trade"? |
Britishers turned India into an exporter of raw materials and importer of finished goods Britishers turned India into an exporter of finished goods and importer of raw materials Britishers turned India into an exporter of intermediate goods and importer of raw materials Britishers turned India into an exporter of finished goods and importer of intermediate goods |
Britishers turned India into an exporter of raw materials and importer of finished goods |
India has been an important trading nation since ancient times. But the restrictive policies of commodity production, trade and tariff pursued by the colonial government adversely affected the structure, composition and volume of India’s foreign trade. Consequently, India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute etc. and an importer of finished consumer goods like cotton, silk and woollen clothes and capital goods like light machinery produced in the factories of Britain. |