India’s Trading Nation Status
India has been an important trading nation since:
- The medieval period only
- The British period
- Ancient times — Correct Answer
- After independence in 1947
Explanation:
Correct Answer Explanation
India has been an important trading nation since ancient times. However, the restrictive colonial policies adversely affected the structure and volume of India's foreign trade.
Key Points:
- India had a rich tradition of international trade for centuries.
- Products like textiles, spices, precious stones were traded worldwide.
- Colonial policies distorted this natural trade pattern.
- India was reduced to exporting raw materials and importing finished goods.
- Britain maintained monopoly control over India's trade during colonial rule.
📚 About this Topic — CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE
This multiple choice question is from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE to strengthen your preparation.
