Why did indian businessmen avoid competing …
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Posted by Nandini Sharma❤️ 6 years, 9 months ago
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Abhinand Sakalakanavar 6 years, 9 months ago
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Gaurav Seth 6 years, 9 months ago
As colonial power gained control over Indian trade, the scope of business for Indian merchants become limited. They we are not allowed to trade with Europe in manufactured goods. They were are allowed to export only raw materials and food grains like cotton, opium, wheat and Indigo which where required by British. Indian merchant even thrown out of shipping business.
The problems faced by the Indian weaves were:
1. Their export market collapsed.
2. The local market was flooded with Manchester goods.
By the 1960s Indian weavers faced a problem. American Civil War started and cotton supplies from US was stopped.
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