You exploit their natural resources for you not them, and otherwise leave them where you found them, in a state of nature.
You don't have to sell them, or trade them, industrial products; certainly never teach them to make them themselves for sale.
Most of that trade, contrary to theories of industrial development being tied to colonial development, especially in the industrial revolution, was intra European and North America trade, not driven by colonial trade. Raw materials inputs weren't the big cost factor. Most of the biggest raw materials inputs for the industrial revolution came from within Europe anyway. Cotton was an exception.
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