History project
Name – Tanmay Kandarp
Shukla
Class – 10 Roll no . 34
1. Indian Trade, Colonialism and
the Global System
Fine cottons produced in India were
exported to Europe.
With industrialisation, British cotton
manufacture began to expand, and
industrialists pressurised the
government to restrict cotton imports
and protect local industries.
Tariffs were imposed on cloth imports
into Britain and Consequently, the
inflow of fine Indian cotton began to
decline.
British manufacturers also began to seek
overseas markets for their cloth.(started
selling there cloths in other countries ).
Due to this now, Indian textiles faced
hard competition in other international
markets .
In Britain the decline of the share of
cotton textiles with India decreased
from 30 per cent in 1800 to 15 per cent
by 1815 and in 1870s it dropped up to 3
percent.
While exports of manufactures declined
rapidly, export of raw materials
increased equally fast.
Between 1812 and 1871, the share of
raw cotton exports rose from 5 per cent
to 35 per cent. Indigo used for dyeing
cloth was another important export for
many decades .
Over the nineteenth century, British
manufactures flooded the Indian market
Food grain and raw material exports
from India to Britain and the rest of the
world increased
Value of British exports to India was
much higher than the value of British
imports from India. Expaination -
(Britishers were selling there goods in
high price in India but the goods of India
were sell in low price in Britain and
Europe )
Hence Britain used to get huge profit
(Trade Surplus) .
They used the Trade Surplus to -
(1) Pay pensions of British officials in
India
(2) Interest payments on India’s external
debt.
(3)Balance its trade deficits with other
countries.
2. The inter war economy
The First World War (1914-18) was
mainly fought in Europe. But its impact
was felt around the world.
The first half of the twentieth century
was into a crisis that took over three
decades to overcome.
During this period the world
experienced widespread economic and
political instability, and another
catastrophic war.
Images
1.
East India Company House, London. This was
the nerve centre of the worldwide operations
of the East India Company.
2.
A distant view of Surat and its river
All through the seventeenth and early
eighteenth centuries, Surat remained the
main centre of overseas trade in the
western Indian Ocean.
3.
The trade routes that linked India to the
world at the end of the seventeenth
century.
