Question

Explain few major trading centers of 17 century in business studies

Answer 1

This was due to the trading activities of the various European companies which came to India during this period. India had commercial relations with the western countries from time immemorial.

But from the seventh century A.D. her sea-borne trade passed into the hands of the Arabs, who dominated the Indian Ocean and the Red sea. It was from them that the enterprising merchants of Venice and Genoa purchased Indian goods.

This monopoly of Indian trade by the Arabs, and the Venetians was sought to be broken by direct trade with India by the Portuguese.

The geo­graphical discoveries of the last quarter of the 15th century deeply affected the commercial relations of the different countries of the world and produced far-reaching consequences. The discovery of a new all-sea route from Europe to India via Cape of Good Hope by Vasco da Gama had far-reaching reper­cussions on the civilised world.

The arrival of the Portuguese in India was followed by the advent of other European communities and soon India’s coastal and maritime trade was monopolized by the Europeans.The European merchants who came to India during this period differed from the earlier foreign merchants and had the political and military support of their respective governments.

They were not individual merchants but represented their respective countries and tried to establish and safeguard their maritime trade on the strength of their superior naval power. In course of time, their commercial motives turned into territorial ambitions.