why did network of export trade in textiles controlled by the Indian merchants break break down by the 1750? mention any two effects of such a breakdown
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(i) European trading companies gained power. First, they acquired trading concessions from local rulers, then monopolised rights to trade. (ii)This resulted in the decline of the old ports of Surat and Hoogly. (iii)Exports from the old ports fell dramatically and local bankers slowly went bankrupt.
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European trading companies gained power. First, they acquired trading concessions from local rulers, the monopolized rights to trade.
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