History · Modern India
With reference to the commercial practices introduced by the English East India Company in India, consider the following statements: I. Under an advance-based arrangement (Dadani system), Indian producers received money in advance in return for a contractual obligation to supply goods to the Company. II. The replacement of this arrangement by a system of Company-appointed intermediaries (like Gumashtas) resulted in tighter supervision over production and procurement. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither I nor II
- 2Both I and II✓
- 3II only
- 4I only
Correct answer
Both I and II
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