During the period 1780-1860, India transitioned from an exporter of processed goods, paid for in bullion, to an exporter of raw materials and a buyer of manufactured goods.

• In the 1750s, fine cotton and silk were exported from India to markets in Europe, Asia, and Africa.
• By the second quarter of the 19th century, raw materials, which chiefly consisted of raw cotton, opium, and indigo, accounted for most of India's exports.