Radha Kumud Mukhopadhyay, Indian Shipping — Book 1, Part 2… (1912)
“ Through ages India thus occupied a unique position in the commercial world as the main supplier of the world's luxuries. As a consequence she throughout had the balance of trade clearly in her favour, a balance which could only be settled by the export of treasure from European and other countries that were commercially indebted to her. For India desired nothing which foreigners could give her but the precious metals. ”
