Question

Which of the following statements best describes India's foreign trade during the colonial period?

• A. India imported raw materials and exported finished goods.
• B. India's foreign trade greatly benefited the economy and eliminated shortages of essential goods.
• C. India primarily traded with European nations other than Britain.
• D. India's trade was largely controlled by Britain, with limited trade with other nations like Sri Lanka, China and Iran.

Answer 1

Answer:

D. India's trade was largely controlled by Britain, with limited trade with other nations like Sri Lanka, China and Iran.

The statement that best describes India's foreign trade during the colonial period is: India's trade was largely controlled by Britain, with limited trade with other nations like Sri Lanka, China, and Iran. During this period, Britain held the monopoly over India's imports and exports. Therefore, most of the foreign trade was restricted only to Britain, while the rest half was allowed to trade with other countries like Ceylon (Sri Lanka), China, and Persia (Iran). India was a large exporter in the colonial period.