Colonial Limitations Over Indian Merchants


 
 
Concept Explanation
 

Colonial Limitations Over Indian Merchants

Colonial Limitations Over Indian Merchants: As colonial power gained control over Indian trade, the scope of business for Indian merchants became limited. They were not allowed to trade with Europe in manufactured goods. They were allowed to export only raw materials and foodgrains like cotton, opium, wheat and indigo which were required by the British. Indian merchants even thrown out of shipping business. Till the First World War, European Managing Agencies controlled a large sector of Indian industries. Some of them are Bird Heiglers & Co. Andrew Yule and Jardine Skinner & Co. Indian businessmen were not even allowed to join in the Chambers of Commerce of Europeans

 
 


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