gswith logo
from amitsoft logo

What role did India play in the global economy during the 18th and 19th centuries

Please elaborate on India's economic connection with the world during the eighteenth and nineteenth centuries, including its trade with other countries and major exports and imports in that era.
During the 18th and 19th centuries, India was a major player in the global economy. Here are some key points to consider regarding India's economic connection with the world during this time:
  • India was a major producer of textiles, with cotton textiles being its most significant export. These textiles were in high demand across Europe, and accounted for a significant portion of India's foreign trade.
  • India was also involved in the global trade of spices such as pepper, cinnamon, and cardamom. These spices were highly valued in Europe and beyond, and India's position on trade routes made it a key player in this market.
  • The British East India Company was heavily involved in India's economy during this time, both through trade and through their colonization of much of India.
  • India's trade with China, including the exchange of goods such as tea, porcelain, and silk, was also significant during this time.
  • However, India's economy suffered greatly under British colonial rule, with Indian goods being heavily taxed and with the introduction of British goods to the Indian market leading to a decline in certain industries.
Overall, India played an important role in the global economy during the 18th and 19th centuries, largely driven by its production of textiles and involvement in the spice trade. However, its economy was heavily impacted by British colonization during this time.
Answered 2 years ago
Amrita Aspirants