When was the Suez Canal opened? How did it affect the Indian economy?Explain

eve-of-independence

#1

When was the Suez Canal opened? How did it affect the Indian economy?


#2

Suez Canal was opened in 1869. Suez Canal is an artificial waterway running from North to South across the Isthmus of Suez in North-Eastern Egypt. It is one of the most important waterways in the world. Its opening reduced the cost of transportation and made access to the Indian market easier and economical. A significant reduction in transport cost prompted monopoly control of India’s foreign trade by the British Government.