Why did the port of Surat decline by the end of the 18th century?

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None of the above

Both 1 and 2

European corporations obtained trading monopolies

European corporations gradually gained power

answer is C.

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Detailed Solution

The port of Surat declined by the end of the 18th century because European corporations gradually gained power and obtained trading monopolies.
Exports from the port of Surat began to fall precipitously. Local bankers started to go bankrupt. Trade, which had previously been financed by credit, began to dry up. The value of trade at Surat port had dropped from Rs 16 million in the 1740s to Rs 3 million in the last years of the 17th century. As the old ports of Surat and Hooghly became less important, new ports like Calcutta and Bombay grew.

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