Mercantilism And Coming Of The Europians Flashcards
What is Mercantilism and how did it start?
Mercantilism as an economic policy became popular in Europe in the sixteenth century. It stated that the prosperity of a country depends on profitable trade. As a result, many European traders such as the French, Dutch, British and Portuguese came to India for trade benefits. This lead to rivalry among these traders for supremacy.
How did the Anglo-French rivalry start?
By the eighteenth century the Portuguese and the Dutch lost their position in trade to the British and the French both in India and in the west. The British and French companies constantly competed for extending political influence and controlling markets as well as dominating Indian trade with Europe. This lead to the Anglo-French rivalry which consisted of a series of wars known as the Carnatic Wars which lasted between 1744-1763. Eventually, Britain emerged victorious and slowly transformed it’s role form a trading power to an imperialist power which ruled India for nearly two centuries.
Who signed the charter permitting the English East India company to trade with India?
Queen Elizabeth 1
How did the British secure trading rights in India?
Captain Hawkins paid a visit to the court of Jahangir in 1608 but failed to secure trading rights. However, after the visit of Sir Thomas Roe to India in 1613, they were permitted to establish their first factory at Surat.
Which two Farmans did the British receive from the Mughals?
- Farman of 1691 granted by Aurangzeb exempted the British from paying customs duties in Bengal.
- Farman of 1717 granted by Emperor Farukhsiyar exempted the British from paying customs duties in Gujrat and Deccan.
