History, asked by supriya742, 1 year ago

why the system advancing loans to the weavers adopted by the east india company in india.

Answers

Answered by Kardam2001
27
1. the weavers were given loans to purchase the raw material for their production
2. it prevented weavers from dealing with other buyers by introducing introducing the system of advances
3. the advances and loans they received from the company tied them with the company
Answered by DodieZollner
2

Advancing loans to the weavers adopted by the East India Company to maintain its products in the European Market.

Explanation:

  • The system of advance loan allowed weavers to buy raw materials for their production.
  • Loans limit weavers to deal with Indians buyers.
  • The system of loan introduced weavers to get attached to the contract system.
  • It allowed the weaver to produce for the requirement of the European companies.
  • Under this system, weavers could not sell their products to others.  

Learn More:

Why did the English East India Company start a system of giving advance loan to weavers??​

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