Question

In the context of the history of South India, which of the following explains the term 'trade guilds'?

• A. An association of traders to protect mutual interests and maintain standards.
• B. An association of traders formed to exploit customers.
• C. An association of traders formed by the ruler of the state.
• D. An association of customers formed to protect mutual interests.

Answer 1

The correct option is A An association of traders to protect mutual interests and maintain standards.

In early 11th century CE, South Indian merchants organised themselves into trade guilds to trade globally. Trade guilds are associations of traders of the same trade or pursuits, formed to protect mutual interests and maintain standards.