Question

Why did the English east india company start a system of giving advance loan to weavers?

(Class 10, CBSE, History , Chapter 5 => The Age Of Industrialisation)

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Answer 1

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• The advances and loans they received from the company tied them with the company.


• The weavers were given loans to purchase the raw material for their production.


• It prevented weavers from dealing with other buyers by introducing introducing the system of advances.


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Answer 2

Hey Mate!

Good question ♥

⏩ East india company was a British company established in 1600 in Bengal.

⏩ The main aim of East India company was to trade with Indians.

⏩ They mainly traded the cotton and other clothes.

⏩ To compete with company of France, East India company started giving advance loans to Weavers.

⏩ The reason behind giving loans was to avoid the trade of Weavers with local traders.

⏩ They purchased the raw materials from these weavers.

⏩ Hence, they gave advance loans to the weavers to take over the clothes and raw materials.



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