Question

long question answers write a paragraph on domestic and foreign trade during the mediaeval period

Answer 1

In the medieval period, the middle classes masses had been largely belonged to merchants and other professional classes such as vaidyas and hakims (Ayurvedic doctors) and other officials.

Trading Classes

Among the merchant classes, some specialized in wholesale trade, and others in the retail trade. The wholesale traders were known as ‘seth’ or ‘bohra’ and the retail traders were known as ‘beoparis’ or ‘banik.’

English and Dutch traders who came to India during the seventeenth century found that the Indian financial system was highly developed, and the Indian merchants were very active and alert.

The laws made (for the traders) by Sher Shah were very strict. Secondly, Mughal Emperor Jahangir made a provision that "if anyone, whether nonbeliever or Musalman should die, his property and other belongings should be left for his heirs, and no one should interfere with them.”

In a case where the respective (rich) person had no heir, an inspector should be appointed and also there would be separate guardians to guard the property, so that its value might be expended in a lawful and social expenditure, such as the building of mosques and sarais, repair of broken bridges, and the digging of tanks and wells."

Organization of Trade & Commerce

The Mughals paid attention to roads and sarais, which made communication easier. A uniform tax was levied on goods at the point of their entry into the empire. Rahdari (a transit duty, a toll) or Road ceases was declared illegal, though it continued to be collected by some of the local rajas (kings).

The Mughals introduced silver rupees of high purity, which became a standard coin in India and abroad and that helped in the growth of India's trade as well.

Role of European Trading Companies

The Indian traders welcomed the foreign traders and they helped to break the Portuguese monopoly of sea trade, and in a course of time, helped to establish a direct link between India and the European markets.

The Indian textiles became a rage in England by the last quarter of the seventeenth century. An English observer wrote, "Almost everything that used to be made of wool or silk, relating either to dress of the women or the furniture of our houses was supplied by the Indian trade."