Question

Explain how Indian merchants and bankers involved in the export trade in eighteenth century?

Answer 1

i) From the late eighteenth century, the British in India began exporting opium to China and took tea from China to England (it) Many Indians became junior players in this trade, providing finance, procuring supplies, and shipping consignments.

(ii) Having earned through trade, some of these businessmen had visions of developing industrial enterprises in India

(iii) Some merchants from Madras traded Burma while others had links with the Muddle East and East Africa. There were yet other commercial groups, but they were not directly involved in external trade. They operated within India, carving goods from one place to another, banking money, transferring funds between cities, and financing traders.

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