Genesis of IB

 9th Century Asia and Europe had Civilised People, Shephards,

no rigid country boundaries, China printed books, developed
block making technology
 10th Century China made paper money backed by gold
reserves
 11th Century in India Chola kingdom came about with Rajendra
Chola,who attacked Malaya to end their domination of Indian
ocean
 Indias trade double as a result
 Republic of Venice had great success in international trade in
the mediteranian sea. Gave tax concessions to bedcome a
great trading country
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Pre-country Times

 Early days of civilisation no countries, only nomadic

clans roaming in search of food and water.
 One clan had food other had animal skin for clothing
–they bartered.
 Men engaged in hunting for food women making
dresses, cooking food
 When barter was not enough money system came
into being
17 Century and beyond

 Industrial revolution in the west, INDIA under British

rule
 Steam engine,electricity,telephone,internal
combustion engine
 20th century
 Atom split, wireless, cell phones,nylon, silicon
chip,nuclear and IT age
 21st century boundary less trade,(eg. EU, Nafta)
Pre 1991 Scene in India

 Less competition
 Highly regulated Indian international trade
 Export benefits
1. Cash subsidy
2. Duty draw back
3. Replenishment
Post 1991benefits
1. Only duty draw back
2. Partial convertibility of rupee
1991-LPG

 Liberalization-no license required for

manufacturing
 Privatisation-focus shifted from government
or public sector to private businesses
 Globalisation-India joins the western market
economy
Genesis of IB
 China started mass production of iron
products, lots of paper money
 Prosperity in trade with several nations
 Around that time mariners compass was
invented that helped in international trade
and travel
 13th Century Chengez khan from north China
invaded asia to promote the silk route
Genesis of IB

 13th Century -1271- Marco Polo a Venice

merchant visited China, became their
Commercial Agent to gain knowledge of
China
 14th Century Brigge located North sea that
became a major trading centre for Europe,
England, France, countries bordering the
Atlantic ocean
Genesis of IB

 15th Century Japan and China prohibit foreign trade

to supress piracy. They allowed only friendly
countries.
 Chinese ships reach Africa to trade their wares with
exotic animals for their king
 Chines expeditions explore Indian ocean
 On 20th May 1498 Vasco da gama came to India
from Portugal. His trade efforts were not very
successful due to competition from muslim traders
Genesis of IB

 1780 saw industrial revolution taking place in

Europe
 18th Century had both the British and the
Dutch coming to Bombay and Madras
respectively
 James Watt invented Steam Engine
 1807 US banned European trade because of
the problems of Nepolian wars