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INTERNATIONAL TRADE
The map of the world of today is not similar to that of past. There were
many countries or kingdoms and they were considered foreign to each
:her. For example, the country 'India' had been divided as many
ountries before getting independence, With the division of labour
m.an could produce surplus and originally, the producers used to
export their products to the nearby countries and gradually extended
.Lne export to far-off countries. Trade had been carried by land by
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With industrial revolution, the great industrial nations of Europe, i.e., the
colonial powers of Spanish, Portuguese, Dutch, French, Italian, German
and British needed colonies to supply them with raw material. Eiropean
nations embarked upon imperialism for the sake of finding markets for
their surplus goods and loot. The European nations needed
Trade law-2