Indian Trade, Colonialism and the Global System
Indian Trade, Colonialism and the Global System
Indian Entrepreneurs Abroad: Indian bankers were amongst the many groups of bankers and traders, who financed export agriculture in Central and South-East Asia. They used their own funds or those borrowed from European banks. They developed sophisticated systems to transfer money over large distances. Shikaripuri Shroffs and Nattukottai Chettiars were some famous Indian bankers.
Indian traders and moneylenders also followed European colonisers into Africa. They established flourishing emporia (large retail stores) at busy ports worldwide. They usually sold local and imported curios (rare objects) to tourists.
Indian Trade, Colonialism and the Global System: Fine cottons from India were exported all over the Europe. With industrialisation, British cotton manufacturers began to expand. The industrialists pressurised the government to restrict cotton imports from India and protect local industries.
Indian Trade and Colonialism: The British Government introduced high tariffs on import of cotton cloth. From the early 19th century, British manufacturers also began to seek overseas markets for their cloth. As a result, the Indian textile industry was adversely affected. Indian textile faced stiff competition in other international markets. A steady decline of Indian cotton textile was seen from some 30 per cent around 1800 to 15 per cent by 1815. By the 1870s, this proportion had dropped to below 3 per cent. While exports of manufactures declined rapidly, export of raw materials increased equally fast. Between 1812 and 1871, the share of raw cotton increased from 5 per cent to 35 per cent.
British forced the farmers of India to produce indigo and opium. Indigo used for dyeing cloth was exported to Britain. Opium grown (from the 1820) in India was exported to China. The money earned through opium sale was used by Britain to finance its tea and other imports from China.
Trade Relationship Between India and Britain: Over the 19th century, the British manufactures flooded the Indian market. Food grain and raw material which were exported from India to Britain increased. The value of British exports to India was much higher than the value of British imports from India. Thus, Britain had a trade surplus with India and used this surplus to balance its trade deficits with other countries.
In this way, a multilateral settlement system works. It allows one country's deficit with another country to be settled by its surplus with a third country. India played a significant role in world economy by helping Britain balance deficits. This trade surplus of Britain helped the home changes i.e. private remittances of British officials, traders, interest payments on external debt and pensions of British officials in India.
#Remittance :- An amount of money that is sent as a payment for something .
Students / Parents Reviews [20]
One of the best institutes to develope a child interest in studies.Provides SST and English knowledge also unlike other institutes. Teachers are co operative and friendly online tests andPPT develope practical knowledge also.
Aman Kumar Shrivastava
10thIn terms of methodology I want to say that institute provides expert guidence and results oriented monitering supplements by requsite study material along with regular tests which help the students to improve their education skills.The techniques of providing education helps the students to asses...
Aman Kumar Shrivastava
10thAbhyas is a complete education Institute. Here extreme care is taken by teacher with the help of regular exam. Extra classes also conducted by the institute, if the student is weak.
Om Umang
10thAbhyas institute is one of the best coaching institute in the vicinity of Ambala Cantt area. The teachers of the institute are well experienced and very helpful in solving the problems of the students.The good thing of the institute is that it is providing extra classes for the students who are w...
Aman Kumar Shrivastava
10thMy experience with Abhyas Academy has been very good. When I was not in Abhyas whenever teacher ask questions I could not speak it confidently but when I came in Abhyas, my speaking skills developed and now I am the first one to give the answer of teachers question.
Upmanyu Sharma
7thAbhyas is an institute of high repute. Yogansh has taken admission last year. It creates abilities in child to prepare for competitive exams. Students are motivated by living prizes on basis of performance in Abhyas exams. He is satisfied with institute.
Yogansh Nyasi
7thThird consective year,my ward is in Abhyas with nice experience of admin and transport support.Educational standard of the institute recumbent at satisfactory level. One thing would live to bring in notice that last year study books was distributed after half of the session was over,though study ...
Ayan Ghosh
8thAbhyas institute is one of the best coaching institute in the vicinity of Ambala cantt.The institute provides good and quality education to the students.The teachers are well experienced and are very helpful in solving the problems. The major advantages of the institute is extra classes for weak...
Shreya Shrivastava
8thIt has a great methodology. Students here can get analysis to their test quickly.We can learn easily through PPTs and the testing methods are good. We know that where we have to practice
Barkha Arora
10thMy experience was very good with Abhyas academy. I am studying here from 6th class and I am satisfied by its results in my life. I improved a lot here ahead of school syllabus.
Ayan Ghosh
8thMy experience with Abhyas academy is very nice or it can be said wonderful. I have been studying here from seven class. I have been completing my journey of three years. I am tinking that I should join Abhyas Academy in tenth class as I am seeing much improvement in Maths and English
Hridey Preet
9thAbout Abhyas metholodology the teachers are very nice and hardworking toward students.The Centre Head Mrs Anu Sethi is also a brilliant teacher.Abhyas has taught me how to overcome problems and has always taken my doubts and suppoeted me.
Shreya Shrivastava
8thAbhyas Methodology is very good. It is based on according to student and each child manages accordingly to its properly. Methodology has improved the abilities of students to shine them in future.
Manish Kumar
10thA marvelous experience with Abhyas. I am glad to share that my ward has achieved more than enough at the Ambala ABHYAS centre. Years have passed on and more and more he has gained. May the centre flourish and develop day by day by the grace of God.
Archit Segal
7thMy experience with Abhyas academy is very good. I did not think that my every subject coming here will be so strong. The main thing is that the online tests had made me learn here more things.
Hiya Gupta
8thAbhyas academy is great place to learn. I have learnt a lot here they have finished my fear of not answering.It has created a habit of self studying in me.The teachers here are very supportive and helpful. Earlier my maths and science was good but now it has been much better than before.
Barkha Arora
10thIt was a good experience with Abhyas Academy. I even faced problems in starting but slowly and steadily overcomed. Especially reasoning classes helped me a lot.
Cheshta
10thThe experience was nice. I studied here for three years and saw a tremendous change in myself. I started liking subjects like English and SST which earlier I ran from. Extra knowledge gave me confidence to overcome competitive exams. One of the best institutes for secondary education.
Aman Kumar Shrivastava
10thAbhyas is good institution and a innovative institute also. It is a good platform of beginners.Due to Abhyas,he has got knoweledge about reasoning and confidence.My son has improved his vocabulary because of Abhyas.Teacher have very friendly atmosphere also.
Manish Kumar
10thWe started with lot of hope that Abhyas will help in better understnding of complex topics of highers classes. we are not disappointed with the progress our child has made after attending Abhyas. Though need to mention that we expected a lot more. On a scale of 1-10, we would give may be 7.
