Choose that given statement is true/false

The East India Company had become the Diwan, but it still saw itself primarily as a trader.

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True

False

answer is A.

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Detailed Solution

The given statement is True.
The East India Company had become the Diwan, but it still saw itself primarily as a trader. They desired a large revenue income but were unwilling to establish any regular assessment and collection system. Instead, their goal was to increase revenue as much as possible while purchasing fine cotton and silk cloth as cheaply as possible. Within five years, the Company's purchases in Bengal doubled in value. The revenue collected in Bengal was then used to purchase goods for export. Thus, when the Company became the Diwan, there was a change in the system of export and import.

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