Question

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

Answer 1

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