After the British Empire took over India, a three-way trade system developed which involved India, Great Britain, and other British colonies. This system was designed to maximize profits for the British Empire and create a favorable trading environment for British goods.
The first aspect of this three-way trade system was the export of raw materials and goods from India to Great Britain. India was rich in resources such as cotton, spices, tea, and indigo, which were in high demand in Europe. These goods were shipped to Britain for processing and manufacturing.
The second aspect of the trade system involved the import of British manufactured goods into India. British textiles, machinery, and other finished products were sent to India to be sold in the local markets. This created a demand for British goods in India and helped to stimulate the industrial economy in Britain.
The third aspect of the trade system was the export of goods from India to other British colonies. India served as a hub for the distribution of goods to other parts of the British Empire, such as Africa, the Caribbean, and Southeast Asia. This allowed for the transfer of goods between colonies and helped to further strengthen the British Empire's economic power.
Overall, the three-way trade system that developed after the British Empire took over India was designed to benefit the British economy and strengthen British control over its colonies. It played a crucial role in the exploitation of Indian resources and the promotion of British economic interests.
explain the three way trade system that developed after the british empire took over india
1 answer