Why did surat lose its importance as a port in 18th century?
Answers
A network of a variety of Indian merchants and bankers were involved in the export trade, financing production, carrying goods and supplying exporters. Supply merchants linked the port towns to the inland regions. They gave advances to weavers, procured the woven cloth from weaving villages, and carried the supply to the ports. At the port, the big shippers and export merchants had brokers who negotiated the price and bought goods from the supply merchants operating inland. 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. This resulted in a decline of the old ports of Surat. The same happened with Hooghly.The port of Surat on the west coast of India was the major port to handle the Indian foreign trade with the west before the age of machines.But towards the end of the 18 century ,various European companies, especially the east India company monopolized much of the trade. They setup & patronized their own ports. All this resulted in the decline of old ports like Surat.
Answer:
The port of Surat declined by the end of the eighteenth century on account of the growing power of European companies in trade with India. ... This led to a decline of the old ports of Surat and Hoogly from where local merchants had operated. Exports slowed and local banks here went bankrupt.
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