Encyclopedia of India–China Cultural Contacts v1.c5.s1.57

v1.c5.s1.57

In the trade between the two nations in the middle of 19ᵗʰ century, the volume of goods exported to India from China was much less than that of goods exported to China from India. China faced a huge trade deficit, which required silver to pay for the balance. The main goods of India were opium, cotton, wheat and jute, mainly exported to China; while the main goods of China were raw silk, porcelain, tea and medicinal materials, mainly exported to Britain, USA, France, Netherland and Spain. According to statistics, during the period 1834~1845, the annual average value of the goods imported from China by India was only 1/80ᵗʰ of the value of the goods exported from India to China. So, the net value of silver transported to India from China reached about 1.5~2.5 million pounds. The goods exported to India by China in this period included, besides raw silk, tea and porcelain, rock candy, white sugar, alum, silk and satin, camphor, paper, homespun, etc.