While ____ decayed, Bombay and Calcutta grew.

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Detailed Solution

While Surat and Hoogly decayed, Bombay and Calcutta grew.
The network of Indian traders was disintegrating by the 1750s. European businesses rapidly increased their authority, initially obtaining some concessions from regional courts before obtaining trading monopolies. The historic ports of Surat and Hooghly, where local merchants had conducted business, suffered as a result. Exports from these ports experienced a sharp decline, the credit that had supported previous trade started to dry up, and local bankers gradually went bankrupt. The total value of trade passing through Surat in the final years of the seventeenth century was Rs 16 million. It had fallen to Rs 3 million by the 1740s. The ports of Bombay and Calcutta expanded as Surat and Hooghly deteriorated. This transition from the old to the new ports was a sign of the expansion of colonial power.

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