The economic relation of India with other countries of the world and with the different provinces was completely disrupted due to the victory of India by British . Before their entry to India Bengal had good trade relations with the countries of south-east Asia. Now all the trade relations in sea were centered round Britain. The domestic business was gradually becoming under control by the British. The local agents of the British had to obey certain conditions at the end of eighteenth century to get large amount of transaction.The British were driving away the others from the merket in this way.
Before the possession by the British, the money lenders and big business magnets found the only way out in big advantageous transactions to be related with the revenue collection for treasury at Murshidabad.
In 1772, when the treasury was shifted to Calcutta from Murshidabad Jagat Seth and his descendants lost their influence over the treasury. To extend the control of the Government over the revenue system Warren Hastings , in 1773-1774, closed all the mints in Dacca, Patna, and Murshidabad with a view to centralise and concentrate the activities of the Government. This was done to establish its monopoly control over the production of exchange system. From that time the ruin of Jagat Seth and his family started. The process was accelerated by the establishment of three British Banks. These banks issued notes , loans and did other relevant jobs.
The first business organisation of Britishers in India was formed on 1770 in place of Indian agents and traders engaged in business of British. These organisations gradually took the responsibility of exploitation of the colonial India. Indian powerful traders being driven fron city went to village nd became zaminder and invested their capital to small businesses.
The exploitations of the artisans was also increased.The weavers were prevented to prepare clothes for market till they had not supplied orders by English officers from 1775. Thus they had lost all their freedom to work. They began to leave their villages and took shelter in some other village just to increase the number of agricultural labour. !773 and 1786 there broke an weavers revolt. In 1787 the weaversd of Dacca and in 1789 the weavers of Sonargna were cheated,tortured and then arrested. Salt producing workers also made same complains..
Before the possession by the British, the money lenders and big business magnets found the only way out in big advantageous transactions to be related with the revenue collection for treasury at Murshidabad.
In 1772, when the treasury was shifted to Calcutta from Murshidabad Jagat Seth and his descendants lost their influence over the treasury. To extend the control of the Government over the revenue system Warren Hastings , in 1773-1774, closed all the mints in Dacca, Patna, and Murshidabad with a view to centralise and concentrate the activities of the Government. This was done to establish its monopoly control over the production of exchange system. From that time the ruin of Jagat Seth and his family started. The process was accelerated by the establishment of three British Banks. These banks issued notes , loans and did other relevant jobs.
The first business organisation of Britishers in India was formed on 1770 in place of Indian agents and traders engaged in business of British. These organisations gradually took the responsibility of exploitation of the colonial India. Indian powerful traders being driven fron city went to village nd became zaminder and invested their capital to small businesses.
The exploitations of the artisans was also increased.The weavers were prevented to prepare clothes for market till they had not supplied orders by English officers from 1775. Thus they had lost all their freedom to work. They began to leave their villages and took shelter in some other village just to increase the number of agricultural labour. !773 and 1786 there broke an weavers revolt. In 1787 the weaversd of Dacca and in 1789 the weavers of Sonargna were cheated,tortured and then arrested. Salt producing workers also made same complains..
