Question

The age of Indian textile five points answer

Answer 1

The Age of Indian Textiles. Before the age of machine industries, silk and cotton goods from India dominated the international market in textiles. ... A variety of Indian merchants and bankers were involved in this network of export trade – financing production, carrying goods and supplying exports.

Answer 2

Here's an detailed answer for you..

The Age of Indian Textiles

The East India Company had consolidated its business by the mid-eighteenth century. The earlier centres of trade; like Surat and Hooghly; declined during this period. The new centres; like Calcutta and Bombay emerged.

Once the East India Company established political power, it began to assert its monopoly right to trade.

The Company tried to eliminate the existing traders and brokers who were connected with the cloth trade. It tried to establish a more direct control on the weavers. A paid servant; called gomastha was appointed to supervise weavers, collect supplies, and examine the quality of cloth.

Armenian and Persian merchants took the goods from Punjab to Afghanistan, eastern Persia and Central Asia.

A vibrant sea trade operated through the main pre-colonial ports. Surat connected India to the Gulf and Red Sea Ports; Masulipatam and Hoogly had trade links with Southeast Asian ports.

A variety of Indian merchants and bankers were involved in this network of export trade – financing production, carrying goods and supplying exporters.

By the 1750s this network, controlled by Indian merchants, was breaking down.

The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade.

There was a decline of the old ports of Surat and Hoogly through which local merchants had operated. Exports from these ports fell dramatically, credit began drying up, and the local bankers slowly went bankrupt.

Trade through the new ports (Bombay and Calcutta) came to be controlled by European companies, and was carried in European ships.

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