Wednesday, December 19, 2007

The port of Surat

1) The export trade controlled by indian merchants was breaking down by 1850s.
2) European companie gained power,
They got concessions from local courts
& secured monopoly rights over trade.
3) local banks went bankrupt & the loans Which provided finance for trade by indian merchants were no longer available.
4) Therfore the old ports of Surat & Hoogly declined
& the new port of Bombay & Calcutta grew.

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