how was foreign trade was conducted during industrialisation period class 10 NCERT chapter industrialisation
Dear Student,
The East India Company came into power and consolidated its base after 1760s, due to which the textile exports started declining from India. Since there was a great demand of Indian fine textiles in Europe, so the East India Company was very much interested in expanding the textile exports from India.
There was a competition in the market between the French, Dutch and Portuguese to secure the woven cloth. However, when the East India Company established its power, it asserted a monopoly right to trade and a management system was formed to control the and eliminate the competition, costs and ensure regular supplies of cotton and silk goods.
There were various steps they took are:-
1) The East India Company straightaway tried to eliminate traders and brokers, those who were specifically connected with the cloth trade and established a direct control over the weaving workers. They also appointed gomastha - a paid servant, so that they can supervise the weavers, collect supplies and examine the quality of cloth.
2) they also made sure that the company weavers should not deal with the other buyers, this was done through the system of advances. Once you have placed the orders, the loans were given to the weavers so that they can buy/purchase the raw material for their production. Gomastha use to collect the finished product (cloth) from the weavers, those who took loans, so that they could not sell the cloth to any other trader.
Regards
The East India Company came into power and consolidated its base after 1760s, due to which the textile exports started declining from India. Since there was a great demand of Indian fine textiles in Europe, so the East India Company was very much interested in expanding the textile exports from India.
There was a competition in the market between the French, Dutch and Portuguese to secure the woven cloth. However, when the East India Company established its power, it asserted a monopoly right to trade and a management system was formed to control the and eliminate the competition, costs and ensure regular supplies of cotton and silk goods.
There were various steps they took are:-
1) The East India Company straightaway tried to eliminate traders and brokers, those who were specifically connected with the cloth trade and established a direct control over the weaving workers. They also appointed gomastha - a paid servant, so that they can supervise the weavers, collect supplies and examine the quality of cloth.
2) they also made sure that the company weavers should not deal with the other buyers, this was done through the system of advances. Once you have placed the orders, the loans were given to the weavers so that they can buy/purchase the raw material for their production. Gomastha use to collect the finished product (cloth) from the weavers, those who took loans, so that they could not sell the cloth to any other trader.
Regards