The port of Surat declined by the end of the eighteenth century. * A vibrant sea trade was being...
0The port of Surat declined by the end of the eighteenth century.
* A vibrant sea trade was being operated through the Surat Ports (Gujarat coast) which connected India to the Gulf and Red Sea port.
* By the 1750s, the network controlled by Indian merchants was breaking down as the European companies gradually gained power. * First, they secured a variety of concessions from the local courts and the monopoly rights to trade.
* The credit that has financed the earlier trade was almost finished and the local bankers gradually went Bankrupt.
* This resulted in the decline of the old port of Surat. In the last years of the \( 17^{\text {th }} \) Centuary, the grass value of trade that passed through Hid Surat port had been Rs 16 million which was declined to
1. Rs 3 million by the 1740 . New ports of Bombay and Calcutta grown replacing the old ports.
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