Why had the Surat and Hoogly ports declined by the end of 18th century? Explain any three reasons.
- Export from these ports fell dramatically.
- The credit that had financed the earlier trade began drying up.
- Local bankers slowly want bankrupts.
- In the last years of 17th century, the gross value of trade that passed through Surat had been 16 million by the 1740s it had slumped at 3 million.