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Indigenous Indians

The expanding world economy saw the emergence of the enterprising ‘Indian banker’. These bankers lent money to the small farmers, which helped them cultivate their land to meet the demands of the growing food and crop market of the world. These enterprising Indian bankers had a sophisticated system to transfer money over large distances, and even developed indigenous forms of corporate organization. Indian traders and money lenders followed European colonizers into Africa and established a flourishing emporia at busy ports world wide.

Indian agriculture and trade began to flourish. Fine cotton produced in India was exported to Europe. Succumbing to the pressure from local cotton manufacturers and industrialist , the British government imposed heavy tariffs on imported cotton. This resulted in the decline of cotton export from India.

East India Company House, London

The East India Company established itself in the Indian soil during the British regime. Indigo, a substance used to dye cloth, and opium were exported from India. As the 19th century progressed , export of food grains and raw material from India to Britain and the rest of the world increased steadily. Thus Britain had a ‘trade surplus’ with India.


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