Why was it difficult for East India Company to procure regular supplies of goods for export in the beginning? Explain. [CBSE 2016] (3 marks)
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The East India Company adopted various steps to ensure regular supplies of cotton and silk textiles.
(i) Established political power to assert monopoly right to trade.
(ii) Developed a system of management and control that would eliminate competition, control cost and ensure regular supply of cotton and silk goods.
(iii) Eliminated the existing traders and broker connected with cloth and established direct control with the weaver.
(iv) Appointed paid servants called gomasthas to supervise weavers, examine the quality of the cloth and collect supplies.
(v) Weavers were not allowed to contact other buyers. Weavers were given advances and were offered the loan to buy raw material. Those who took advance or loan could not contact any other trader.
(vi) The weavers had to sell at a price dictated by the Company. By giving loan the Company bed the weavers with them.
(i) Established political power to assert monopoly right to trade.
(ii) Developed a system of management and control that would eliminate competition, control cost and ensure regular supply of cotton and silk goods.
(iii) Eliminated the existing traders and broker connected with cloth and established direct control with the weaver.
(iv) Appointed paid servants called gomasthas to supervise weavers, examine the quality of the cloth and collect supplies.
(v) Weavers were not allowed to contact other buyers. Weavers were given advances and were offered the loan to buy raw material. Those who took advance or loan could not contact any other trader.
(vi) The weavers had to sell at a price dictated by the Company. By giving loan the Company bed the weavers with them.
Mihir7:
Gr8 answer bro, but these are the tactics the Company used to eliminate its competitors and to assert a monopoly right to trade ;)
Answered by
7
Answer:
a) It gave opportunity to weavers to sell their products at high rate.
b) East India Company also did not have political control to impose its monopoly as it did later.
c) In the 1760s, it was difficult for the East India Company to ensure a regular supply of goods in India for export because the French, Dutch, Portuguese, as well as local traders competed in the market to secure woven cotton.
d) The weaver and supply merchants could bargain and try selling the produce to the best buyer. Thus, the company faced problems of supply and high prices.
Hope it helps you!!
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