Question

Explain the commercial developments in Medieval India.

Answer 1

1. The large manufacturing sector essentially produced goods for exchange.
2. India had an extensive network of trade for marketing the goods.
3. At the next level the producer was de-linked from marketing, the trade was undertaken by merchant intermediaries.
4. Big cities were usually major commercial centres with bazzars and shops.
5. Major parts were the nodal points in international, maritime trade.
6. Maritime trade across the Indian ocean, extending from China in the east to Africa in the West had flourished for many centuries.
7. Merchants operated at different levels.
8. Trade on a large scale could function only with the availability of financial and banking services.
9. The European trading companies realized that they could not function in India without the services of the rich and influential merchants. They entered into contracts.
10. The Indian merchants were under contract to the Europeans to supply textiles and other goods.
11. Political disturbances disrupted the economic activity.