CBSE Class 11-commerce Answered

During the colonial rule, India exported primary products such as raw silk, cotton, wool, sugar, indigo and imported the finished consumer goods such as cotton and woolen clothes and light capital goods produced in the Britain factories with restrictive policies. Britain had a monopoly control over Indian foreign trade activities. Fifty percent of Indian trading activities were involved with Britain and the rest with few other countries such as China, Sri Lanka and Iran.