Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
197 views
in The Market as a Social Institution by (30.9k points)
closed by

Show how the new trade communities made use of the opportunities provided by the colonial rule, citing the example of Marwaris.

1 Answer

+1 vote
by (31.3k points)
selected by
 
Best answer

Marwaris are the most famous and widespread trade community in India. That community includes business magnates like Birla and also the small traders found all over the cities and towns of India. It was during the colonial rule that the Marwaris became so successful in their trade. They took advantage of the opportunities offered by the colonial rule in cities like Calcutta. To engage in trade and money-lending business, they spread across India. Like the Nagarathars, they were able to make use of extensive trade chains and acquire the confidence of the business world.

Many Marwari families made huge amounts of money through trade. They worked like bankers by giving money on interest. Thus they also helped in the development of British trade policies. Towards the end of the colonial rule, and even after independence, the Marwaris continue to march forward successfully. Many Marwari families became modem industrialists. Even now amongst all communities, Marwari community has the biggest share of Indian industries. This story of the Marwaris shows the importance of social background in economic processes.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

...