what commodity formed the economic backbone of bengal in the eighteenth century
Economy of India under Company rule Indian textiles had maintained a competitive advantage over British textiles up until the 19th century, when Britain eventually overtook India as the world's largest cotton textile manufacturer.[6] In 1811, Bengal was still a major exporter of cotton cloth to the Americas and the Indian Ocean. However, Bengali exports declined over the course of the early 19th century, as British imports to Bengal increased, from 25% in 1811 to 93% in 1840.[9] India, which was previously the world's largest economy under the Mughal Empire in 1700, had by 1820 fallen to become the second largest economy, behind Qing China.[10]