Question

What was the impact of colonisation of India on the Indian traders and merchants?

Answer 1

Colonisation had a severe impact on the Indian traders and merchants. Indian markets were fully captured by the British and heavy taxes were imposed on the export of Indian products in the outside market. In this way the market for Indian goods were losing popularity and Indian traders and merchants faced heavy losses. No Indian industry especially the handicrafts could survive in the market. In return, Indian markets were flooded with machine made British goods . Raw materials from India was taken to Britain at cheap costs.India became a supplier of raw materials at the prices fixed by the British. The traditional reputation of Indian industries were destroyed by the British.