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NCERTExplained - international trade

INTERNATIONAL TRADE

HISTORY OF INTERNATIONAL TRADE

Ancient Trade

Initially, trade was localised due to the risks involved in long-distance transport of goods.

People mostly spent on basic necessities with luxury trade being the domain of the wealthy.

The Silk Route emerged as an early example of long-distance trade, connecting Rome to China and facilitating the exchange of luxury and high-value goods across regions.

Medieval Trade

Post the fall of the Roman Empire, during the 12th and 13th centuries, advances like ocean-going warships expanded trade between Europe and Asia.

Colonial Period

By the 15th century, European colonialism spurred the trade of exotic commodities and the horrific emergence of the slave trade.

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