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Trading Communities Strengthened - Explained

In different parts of the country, different communities dominated trade. Punjabi and Multani merchants handled business in the northern region, while the Bhats managed the trade in the states of Gujarat and Rajasthan. In western India, these groups were called Mahajan, Chatt is were important traders from the South. In urban centres, such as Ahmedabad the Mahajan community collectively represented by their chief called nagarseth. Other urban groups included professional classes, such as hakim and vaid (physician), wakil (Lawyer), pundit or mulla (teachers), painters, musicians, calligraphers, etc.
1. Merchant Corporation The merchant community also derived power and prestige from guilds, which were autonomous corporations formed to protect the interests of the traders. These corporations, organised on formal basis, framed their own rules of membership and professional code of conduct, which even kings were supposed to accept and respect. Trade and industry taxes were also a major so…

History of Trade and Commerce - Explained

History of Trade and Commerce
The economic and commercial
evolution of any land depends upon its
physical environment. This stands true
for the Indian subcontinent as a whole
which has Himalayas in the North
bordered by water in the South. A
network of roads merging into the
Silk Route helped in establishing
commercial and political contacts with
adjoining foreign kingdoms and
empires of Asia, in particular, and the
world, in general. The maritime routes
linked the east and the west by sea and
were used for the trade of spices and
known as ‘spice route’. Due to the flow
of wealth through these routes, the
chief kingdoms, important trade
centres and the industrial belt
flourished, which in turn further
facilitated the progress of domestic and
international trade in ancient India.

 Trade and commerce have played
a vital role in making India to envolve
as a major actor in the economic world
in ancient times. Archaeological
evidences have shown that trade and
commerce was the mainstay of …