Exports and Imports during British Period

During the British period, the Indian economy was primarily agricultural and was mainly focused on meeting the needs of the British Empire rather than the Indian population. This led to a massive shift in the economic structure of India, with the primary focus being on exports rather than domestic consumption.

Exports were more than Imports

During the major part of the British period, exports from India were more than imports. The British East India Company wanted to extract as much wealth as possible from India, and they did so by exporting raw materials and goods manufactured in India to the British Empire and other parts of the world. Examples of these goods include cotton, jute, tea, opium, and indigo.

The British also imposed high tariffs on Indian goods, making it difficult for Indian manufacturers to compete in the global market. As a result, India became a net exporter of goods, with exports far exceeding imports.

Impact on Indian Economy

The British policy of promoting exports over domestic consumption had a significant impact on the Indian economy. It led to the deindustrialization of India, as Indian manufacturers were unable to compete with the cheap goods manufactured in Britain. This, in turn, led to massive unemployment and poverty in India.

Furthermore, the focus on exports led to neglect of the agricultural sector, which was the backbone of the Indian economy. The British levied high taxes on farmers, which led to a decrease in agricultural production and further poverty in rural areas.

Conclusion

In conclusion, during the major part of the British period, exports from India were more than imports. However, this policy had a detrimental impact on the Indian economy, leading to deindustrialization, unemployment, poverty, and neglect of the agricultural sector.