How was trade monopoly affect the weavers in india ?
Answers
Answer:
The trade monopoly affected the weavers as the British became the single seller in the market. Explanation: After establishing power in India, East India Company asserted monopoly of trade. ... Weavers also found it difficult to obtain raw cotton because they became expensive as the export of cotton increased.
Explanation:
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Answer:
The trade monopoly affected the weavers as the British became the single seller in the market. Explanation: ... Weavers also found it difficult to obtain raw cotton because they became expensive as the export of cotton increased.
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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 could not get sufficient supply of raw cotton of good quality. Raw cotton was exported, so price of raw cotton went up.
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As the cotton industry developed in England, Indian cotton weavers faced two problems - their export market collapsed and local market shrank being flooded with British goods. Indian handmade goods could not compete with fine machine made goods of England. weavers were forced to buy raw cotton at exorbitant prices.