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Hooghly and ____ were the old Ports.

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Detailed Solution

Hooghly and Surat were the old Ports. This declined and ports fell into losses, and bankers became bankrupt. The reason behind the decline of these ports were the European companies that gained the concessions from the Local courts and also they were the first to gain a monopoly for right in trade.The freedom and extra rights of the European companies forced the old ports to decline as they started suffering losses and the bankers were turning bankrupt.In previous years, Surat and Hooghly ports were gaining huge profits but after the entry of European companies with monopoly powers, they suffered drastic losses.

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