When trading began in India, it all started during the medieval ages when trading started in India. Afterward there was an Italian merchant wearing a long black cloak, cap and shoes trading using an Indian farmer, investing in a box full of rice for a barrel of tinned tomatoes. Subsequently the Italian trader returned home in his big ship and marketed the tinned tomatoes for large gains (and also the tinned tomatoes were said to be utilized as meat at the pizza.)
At that time, there were only few dealers who trading in India and very few, if any, who actually made a living trading in India because it was quite hard. The trade routes were so poor and the goods so tough to get.
However, the world had changed a lot after the nineteenth century when the railways were constructed, and so people began to exchange more products between India and other areas of the world. They travelled from remote parts of India to go to their loved ones and friends along with the traders also began to make money. With the help of the railways the movement of goods from 1 area to another was made easier. Also the railways became the major mode of transportation.
But with the assistance of railways too, people began to exchange for themselves and to get other people too. This new business of trading became the first business in which people made money. And, since people started earning money, they kept on making money and soon all sorts of things started to happen in India and people began to trade in India as well. The first two amazing cities in India that began trading were Bombay and Calicut.
Later the exact same year, there was the renowned trading festival known as the”Maharaja Fair” in Gujarat. This festival has been the outset of trading in India for many Indians. The people started to bring things from other parts of India and then sell them in Calicut or Gujarat or Bombay and also this brand new company started spreading like wildfire all across India.
Devolopment in 18th century
Then the eighteenth century saw more development in the Indian economy and with the rise of the British rule in India. Then the railways began to expand and at that time India became a significant centre of trade.
Devolopment in 19th century
The nineteenth century saw even greater development of India’s market and there was a huge growth in its economic activities. And in the twentieth century, when industrialization occurred, the Indian market took off and commerce became so prosperous that it started increasing rapidly. In the late twentieth century, the nation needed a world market share of roughly forty per cent.
This was only in the earlier times when there were not very many individuals living in India. But in recent years, the country has become a significant center of trading and the numbers of individuals living in India have started to rise tremendously, and so the Indian market has seen excellent advancement.
How Economy Was Effected?
The economic activities of the Indian economy is also affected by the development of other industries in India. As more industries are established, the financial activities of the Indian economy also grow.
And at this point of time, commerce has become very prominent in India. There are several aspects that make it possible for India to become an important trading state.
To start with, there are lots of foreign currencies that are exchanged in India and thus this nation becomes an important trading platform for several countries on earth. The next reason India is an important commerce destination is due to the fact that most of the products and products in India are fabricated from India itself. Thus, India is a huge market for its export market.
If you want to start a company in India, you need to know some basics of the nation. And this can help you realize the value of this nation in the global economy.