Question

competition among the european companies pushed up the prices of the goods . explain​

Answer 1

Since there was competition among European companies, India was able to sell their prices at a higher price so that they earn more because each company was fighting with each other to get the goods first. They used to burn down other company’s ships, attack them and even block their ways.

Answer 2

Competition among the european companies pushed up the prices of the goods:

• The European companies which had visited India for trade were all keen about similar merchandise.

• The competition between them was brutal and for limited products it increased the purchase price.

• European buyers were interested in pepper, cinnamon, cardamom, and cloves while England had a good market for fine quality of fabrics like cotton and silk.

• This reduced the volume of profit that could be attained. So, the companies tended to flourish only by eliminating fellow competitors.

To know more:

During British rule why was it easier for the European companies rather than Indian companies to set up industries ? Give few reasons

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How did European company company established control over Indian trade

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