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Q.

The gross value of trade that passed through Surat had been ____.


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Detailed Solution

The gross value of trade that passed through Surat was 16 million.
Surat's port fell by the end of the eighteenth century, owing to the increasing prominence of European corporations in India's trade. They were granted several concessions by local courts and exclusive trading privileges. As a result, the traditional ports of Surat and Hooghly, from which local merchants had operated, began to dwindle. Exports stalled, and local banks went out of business. As the ports of Hooghly and Surat fell, the new ports of Bombay and Calcutta emerged. The volume of trade that earlier went through Surat was in the ballpark of 16 million. But after its decline, it went down to 3 million within five decades.
 
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