Question

What role did merchant guilds play in the medival Indian economy

Answer 1

Dear student,

A Merchant Guild was an association of traders. The Merchant Guild use to negotiate with the lord and regulated trade levy. The Merchant Guilds controlled the way in which trade was conducted and applied rules to the way in which trade was conducted during the Middle Ages. The introduction of the Merchant guilds in a town or city lead to its involvement in civic duties. The power of the Merchant Guild members increased to such an extent that the livelihood of individual trades or crafts within a medieval town, or city, were being jeopardised. Merchant guilds tended to be wealthier and of higher social status than other guilds.

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