How dis the well regulated trade network of Indian merchants started perishing after 1750s
Answers
Answer:
(i) European trading companies gained power. First, they acquired trading concessions from local rulers, then monopolised rights to trade.
(ii)This resulted in the decline of the old ports of Surat and Hoogly.
(iii)Exports from the old ports fell dramatically and local bankers slowly went bankrupt.
Impacts :
(a) Weavers devoted entire time to weaving. They were forced to accept the prices fixed by the company.
(b) There were reports of dashes between weavers and gomasthas. The new gomasthas were outsiders. They acted arrogantly, marched into villages with sepoys and peons, and punished weavers for delays in supply. The weavers lost the space to bargain for prices and sell to different buyers
(c) Weavers deserted villages and migrated, setting up looms in other villages where they had some family relations.
Explanation: