Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 1 Historical Background of Commerce in the Sub-Continent Notes
→ Commerce is part and parcel of human life.
→ The word ‘Vanigam’ has been widely used in Sangam literature like Purananuru and Thirukkural.
→ Trade in Sangam period was both internal and external but it was conducted by means of barter (pandamattru).
→ Trade was one of the major means of linking various regions in the medieval period.
→ Sangam work refers to great traders, their caravans, security force, markets, marts and guilds of such great traders.
→ The important trade routes of the silk and spices, blocked by the Ottoman Empire in 1453 with the fall of Constantinople and the Byzantine Empire, led to the search for a sea route across the Atlantic skirting Africa.
→ The Hebrew and Latin literature, archaeological remains in Aden, Alexandria, Java, Sumatra and even China add support1 to the fact of existence of trade network in the Pandiya country.
→ The place where the goods were sold was called ‘Angadi’ in their period. Day market was called as Nalangadi while the night market was called as Allangadi.
→ Port towns like Tondi, Korkai, Puhar and Muziri were always seen as busy with marts and markets with activities related to imports and exports.
→ Foreigners who transacted business were known as Yavanars.
→ Kaveripumpattinam was the chief port of the Kingdom of Cholas while Nagapattinam, Marakannam, Arikamedu, etc., were other small ports on east coast.
→ According to Kautilya, trade in Medieval India was centralized.
→ Kautilya gave importance for the State in relation to treasury, taxation, industry, commerce, agriculture and conservation of natural resources.
→ During Sultanate period, trade flourished due to the establishment of established currency system based on silver and copper.
→ India’s handicraft commanded a good foreign market.
→ Between early 1600 and mid-19th century, the British East India company led establishment and expansion of foreign trade allover Asia.
→ The barter system envisages mutual exchange of one’s goods to other without the intervention of money as a medium of exchange.