Trading Flashcards
(10 cards)
When and where was the first English factory set up in India?
It was in the Banks of river Hugli in 1651.
What were the company traders known as?
Factors
What was the use of the warehouse?
The factory had a warehouse where goods for export was stored and It had offices where company officials sat.
In which year did the company start building the fort?
In 1696
What rights did the company receive and how?
The company got Zamindari rights by bribing the Mughal officials over three villages.
What was the Zamindari rights?
It allows the British to fortify Kalikata. They got permission to collect revenue of Sutanuti, Gobindapur, Kalika, which later developed into the city of Kalikata.
Which Mughal emperor got persuaded by the British?
Aurangzeb
What did Aurangzeb issue and what was it?
He issued a Farman, it allowed the company to trade duty-free.
How did the company misuse the Farman?
Aurangzebs Farman Only allow the British to trade duty-free officially, but the company officials were carrying on private trade and refusing to pay duty, which caused the enormous loss of revenue for Bengal.
What was Farman?
It allowed the company to Pay duty-free meaning they did not have to pay taxes while trading.
