History[[1]] was used to balance the trade deficit with other countries by Britain.

[[1]] was used to balance the trade deficit with other countries by Britain.


    Fill Out the Form for Expert Academic Guidance!l



    +91



    Live ClassesBooksTest SeriesSelf Learning



    Verify OTP Code (required)

    I agree to the terms and conditions and privacy policy.

    Solution:

    Trade surplus was used to balance the trade deficit with other countries by Britain. A trade surplus is a situation in which the value of exports is greater than imports. In the 19th century, British manufacturers took over the Indian market as food grain and raw material exports from India to Britain and the rest of the world increased. The value of imports from India was less than the value of British exports to India. Britain acquired a "trade surplus" with India, which was used to balance the trade deficit with other countries. This is also known as a multilateral settlement system; it allows one country’s deficit with another country to be settled by its surplus with another country.
     
    Chat on WhatsApp Call Infinity Learn

      Talk to our academic expert!



      +91


      Live ClassesBooksTest SeriesSelf Learning




      Verify OTP Code (required)

      I agree to the terms and conditions and privacy policy.