Imports. Exports. Balance.

3170
5586
2416

3304
5625
2321

3836
6032
2196

5016
7908
2892

6151
8864
2713

7078
10453
3386

8468
12492
4024

11985
16544
4559

15125
22583
6658

26705
30638
3933

25102
35351
10249

16114
19860
3746

14636
17645
3009

16895
21308
4413

15700
19900
4200

17300
25300
8000

11000
19400
8400

Foreign Trade of India—Value in lakhs of Rupees

averages)

Period,

1864-65 to 68-69
1869-70 to 73-74
1874-75 to 78-79
1879-80 to 83-84
1884-85 to 88-89
1889-90 to 93-94
1899-1900 to 1903-04
1904-05 to 1908-09
1909-10 to 1913-14
1919-20 to 1923-24
1924-25 to 28-29
1929-30 to 1933-34
1934-35 to 1938-39
1939-40
1940-41
1941-42
1942-43

These balances are not real, but fictitious. They
do not show the real gain to India. This apparent gain
is set off against the home charges, or, in ordinary
language, forced tribute paid by slave India to her
political master, Britain. The exports are not volun-
tary, or arising out of real surplus, but an exaction
which has to be paid even by denying to ourselves
the necessities of life.
These figures representing balance of trade only
represent the export and import of commodities as
found in the records of the customs department. To
strike a real balance, invisible exports and imports
must also be taken into account. Pre-war Britain
would appear to be the poorest country in the world
because its custom house figures invariably indicated
an unfavourable balance. She was rich because of
her invisible income arising out of banking, shipping,