How indian trading companies collapsed during colonial period? Class x answers?
Answers
Answer:
Explanation:
After establishing political control, the East India Company asserted monopoly of trade. They developed a system of management to eliminate competition and ensure continuous and regular supply of textile goods.(ii) The company established indirect control over the weavers through their paid agents called 'gomasthas' who supervised the weavers, collected supplies and examined the quality of cloth.(iii) This system prevented the weavers from dealing with other traders. In 19th century cotton weavers in India faced two problems. British machine-made goods flooded Indian market. So for Indian weavers export market collapsed and local market shrank.The imported textile goods were so cheap that Indian goods could not compete with them. Indian weavers presented a picture of decline and desolation.