Answer the following question.
"Indian trade had played a crucial role in the late nineteenth-century world economy." Analyze the statement.
The role of Indian economy in the nineteenth-century world economy can be explained as follows :
India was a major exporter of raw materials to Britain.
Indian markets were flooded with British manufactured goods.
There was a trade surplus for Britain while trading with India. SO this trade surplus was used in many ways.
Not only with Britain, but India also traded with China mainly in opium.