Who were the competitors of the East India Company in textile industry in eighteenth century ?
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European union and their companies were the main competitors of EIC
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Answer:
Portugal, Netherlands, and France were the competitors of the East India Company in the textile industry in the eighteenth century.
Explanation:
East India Company was formed in the year 1600. East India Company started their dominance towards India from 1612 and continued till 1874. East India Company followed the monopoly of trade. They indirectly controlled the weavers through Gomasthas, which prevented weavers trading with other dealers.
Many acts were formulated to expand the cotton trade of East India Company. After the arrival of Portuguese, Dutch, and French, the East India Company has lost its demand in the textile industry.
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