Question

What happened in the business scenario in the beginning of the 18th century in India?

Answer 1

• The Indian merchants benefitted from the business opportunities offered by the European companies. 
• But this scenario began to change from the beginning of the eighteenth century. 
• The Indian merchants were under contract to the Europeans to supply textiles and other goods. 
• But by then the local resources were not enough to produce the quantities required and political disturbances also disrupted all economic activity. 
• This resulted in most merchants being bankrupted diminishing the economic vitality of the merchant community.