'Composition of foreign trade of any country tells us about the nature of commodities that are Exported and Imported.' What can you state about the composition of foreign trade at the time of independence?



India’s foreign trade under the British rule is described as below:
(i) The British followed a typical colonial pattern of trade in India, where it was made to serve their interests.
(ii) India exported raw materials to the home country of the Britishers for their expanding industries.
(iii) India was also developed as a market for the finished goods of the British industries.
Thus, India was reduced to being a source of food for the British, a supplier of raw materials for the British industries and a market for their finished products.