HistoryChoose the given statement is true/false:European companies had the monopoly of trade over new ports

Choose the given statement is true/false:


European companies had the monopoly of trade over new ports


  1. A
    True
  2. B
    False  

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    Solution:

    The given statement is True.
    Before the arrival of machine industries, India controlled the global textile market with silk and cotton products. On camelback, bales of excellent fabrics were transported across the northwestern frontier, through mountain passes, and across deserts. The major pre-colonial ports saw active sea trade too. In this network of export trade, a wide range of Indian merchants and bankers participated by providing funding for production, transporting goods, and supplying exporters. This network, run by Indian traders, started to dissolve by the 1750s. Thus European businesses gradually increased their dominance. The old ports of Surat and Hooghly suffered as a result. European businesses eventually gained control of trade passing through the new ports, and European ships were used to transport.
     
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