Question

Which of the following points indicate the volume and direction of trade at the time of independence?

विकल्प

• British followed a discriminatory - tariff policy under which they imposed heavy tariffs (export duties) on India's export of handicraft products.

• India's export basket during the colonial rule comprised mainly of primary products like sugar, jute, silk, etc, and the imports comprised of finished consumer goods like cotton, woolen clothes, etc, from Britain.

• The opening up of Suez Canal further intensified the monopoly power of the British over India's foreign trade.

• All of the above

Answer 1

All of the above

Explanation:

The British used a discriminatory tariff strategy under colonial rule, imposing high tariffs (export duties) on India's handicraft exports while allowing free export of India's raw materials to Britain and unrestricted entry of British products into India. This made Indian exports more expensive, and its worldwide demand plummeted. During colonial control, India's export basket consisted primarily of primary materials such as sugar, jute, silk, and other textiles, while its import basket consisted primarily of completed consumer goods from Britain such as cotton, woolen clothing, and other textiles. Because Britain held the monopoly on India's export and import, more than half of India's trade was restricted to Britain, with the remainder going to China, Persia, and Sri Lanka. The Suez Canal's opening.