What was the importance of the indian trade for british?
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In the 17th and 18th centuries merchants in Europe began to move to the countryside. They gave money to peasants and artisans to produce for an international market. The demands of goods had increased due to colonisation and the resultant expansion of trade. Merchants could not increase production in towns due to the monopoly and power of the crafts and trade guilds. They had the monopoly to produce certain goods and did not allow the entry of new competitors. The guilds were associations of producers that trained craftspeople, maintained control over production, and regulated prices.
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