Introduction:
The item referred to in the statement is pepper. Pepper was an important item of trade from Ancient India and was highly valued in the Roman Empire. It was even known as 'black gold' due to its high demand and value.

Importance of Pepper in Ancient India:
Pepper has been cultivated in India for thousands of years and has been used both as a spice and for medicinal purposes. It was highly valued for its pungent flavor and was considered a luxury item in ancient times. Pepper was used to enhance the taste of food, as a preservative, and for its medicinal properties.

Trade Routes:
Ancient India had established trade routes with various civilizations, including the Roman Empire. Pepper was one of the key commodities that was traded extensively along these routes. The trade routes not only facilitated the exchange of goods but also cultural and technological exchanges.

Pepper in the Roman Empire:
Pepper was in high demand in the Roman Empire due to its rarity and unique flavor. It was considered a valuable and luxurious commodity. The Romans used pepper extensively in their cuisine and believed it to have medicinal properties. They also used it as a status symbol, as only the wealthy could afford to buy and consume it.

Black Gold:
The term 'black gold' was used to describe pepper in the Roman Empire due to its high value and demand. The Romans were willing to pay a premium price for pepper, which made it comparable to gold in terms of its worth. The term 'black' referred to the color of the pepper, which was black when dried and ground into powder.

Conclusion:
Pepper was an important item of trade from Ancient India to the Roman Empire. Its high demand and value in the Roman Empire led to it being known as 'black gold'. Pepper played a significant role in the cultural and economic exchanges between the two civilizations, and its trade contributed to the growth of both the Indian and Roman economies.