Choose given statement is true/false:

During the colonial period, Indian goods were exported to foreign countries at market prices.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
During the colonial period, Indian goods were exported to foreign countries at less than market prices. After gaining control over Indian trade, the colonial powers limited the scope of Indian merchants. The British government eliminated competition (other European merchant companies) and became the lone power over India. Indian merchants were not allowed to trade with Europe in manufactured goods. Indian merchants were allowed to export only raw materials which were needed by the British industry, like raw cotton, indigo and opium. These exports were also paid less than the market price.
The correct statement would be during the colonial period, Indian goods were exported to foreign countries at less than market prices.

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