Why did the Export of Indian textile decline at the beginning of the nineteenth century? Explain any three reasons.
Points to remember:
- Once the East India Company established political power , it could assert a monopoly right to trade.
- The company developed a system of management and control that would eliminate competition.
- Exports of British goods increased dramatically in the early 19th century. Cotton weavers in India faced collapsed export market and a shrank local market.
- The company eliminated competition, controlled costs, and ensured regular supplies of cotton and silk goods.