Q. 24.8( 4 Votes )
What steps were t
The East India company gained monopoly right to trade in India.
1. The East India company wanted to have direct control over the cotton and silk goods.
2. The brokers and other traders who were associated with the cotton and silk trade were eliminated.
3. Paid servants called Gomasthas were appointed to have direct control over the Indian weavers. They supervised the work of weavers, collected the supplies and checked the quality of the produce.
4. The East India company gave loans and advances to Indian weavers for the purchase of raw materials needed for production while placing an order. Hence, they were compelled to hand over their produce to the gomasthas only.
5. This prevented the Indian weavers from selling their goods to other buyers.
These were some of the measures taken by the East India company to control the market for cotton and silk goods.
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