Question

Explain,
The port of Surat declined by the end of the eighteenth century.

Answer 1

Correct Question:-

Explain, The port of Surat declined by the end of the eighteenth century.

Answer :-

★ The port of Surat declined by the end of the eighteenth century on account of the growing power of European companies in trade with India.

★ This led to a decline of the old ports of Surat and Hoogly from where local merchants had operated. Exports slowed and local banks here went bankrupt.

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Answer 2

Answer:

• Before the age of machine industries, silk and cotton goods from India dominated the international market in textiles.
• A vibrant sea trade operated through the main pre-colonial ports. Surat on the Gujarat coast connected India to the Gulf and Red Sea ports.
• By the 1750s the network controlled by Indian merchants was breaking down as the European companies gradually gained power including concessions from the local courts as well as the monopoly rights to trade.
• While Hoogly and Surat decayed, Bombay and Calcutta grew because now trade was carried through the new ports and was carried in European ships. As a result of it, many of the old trading houses collapsed. Thus, export from Surat fell dramatically. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ? 16 million by the 1740s, it declined to ? 3 million.