​During the British era Indian economy was known as ________.​

Correct option is A

Correct Answer: (A) a source for its raw material

Explanation:During the British colonial rule in India, the Indian economy was primarily viewed by the British as a source for raw materials. India supplied raw materials such as cotton, indigo, tea, spices, and other agricultural products, which were then processed in Britain to produce finished goods. These finished goods were sold back to India and other parts of the British Empire.

• (B) A developed economy: This is incorrect. India was under colonial rule and was economically exploited, leading to underdevelopment rather than being a developed economy.

• (C) Only a market for agricultural products: While India was a significant supplier of agricultural products, it also provided raw materials like minerals, which were used in British industries.

• (D) A source for finished capital goods: This is incorrect. India was primarily a supplier of raw materials, not a source for finished capital goods. Finished goods were manufactured in Britain and sold to India.

Thus, India was considered by the British as a source for raw material to fuel the industrial economy in Britain.