How was the portuguese trade in india financed ignou assignment?
Answers
The Portuguese first ventured into Indian subcontinent in May 1498, when Vasco da Gama reached the coast of Calicut and tried to establish trade links with the Indians. Though there were initial misunderstandings with the Zamorin of Calicut, later on, it turned out to be a treasure trove for Vasco da Gama. Trading in spices and other exotic condiments the Portuguese could finance further expeditions for trade as well as prospects of colonisation.
The first Portuguese Viceroy in India was Francisco de Almeida. He initially set up his headquarters in Cochin, but later on in 1510, moved it to Goa.
During Portuguese rule in India, Goa is the main centre of commercial trade, which is conquered in early 1500s. Salt and Spices were the main export commodities in Portuguese trade. Goa flourished with prosperity of commerce.
Though Portuguese denied to pay attention towards agricultural development, people had livelihood and they were paid with betels, coconuts.
At the end of 16th century, the spices trade to Europe was declined when compared to the trade in Asia. In 18th century, there was a great decline in Portuguese finance.