Q.10- How did company purchase goods in India before 1865?
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Before 1865, the Company had purchased goods in India by importing gold and silver from Britain. Now the revenue collected in Bengal could finance the purchase of goods for export.
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Answer:The East India company initially purchased Indian goods like Spices, cotton and luxury goods in exchange of gold and silver brought with them from England. ... More importantly monopoly of trade allowed them to buy Indian goods at cheap rates and Indian peasants and merchants lost their bargaining power.
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