Tag: traditional crafts and decline of indian industries

After the Portuguese, Dutch from the Netherlands arrived in India . In 1602 CE Dutch East India Company'' was established. Agra, Machalipatnam, Surat, Karaikal, Nagapatnam, Cochin and such other places were Dutch trading centres in India.

In the beginning, English followed Peaceful Trade as their policy. But, they took advantage of the deteriorated political situation of India to establish their political supremacy. The Merchants of England who aspired to have trade with the East Countries, founded The East India Company in 1600 CE. They established trade links with India with the permission of Queen Elizabeth.

French were the last among Europeans to reach India for trade. They established French East India Company in 1664 CE. In India, the French opened their first ware house at Surat in 1668 C.E. They opened their trade centers at Pondichery, Maslipatnam, Calicut, Maha, Karaikal and Chandranagar. Pondicherry was the capital of the French.

The process of sponge iron manufacturing involves removal of oxygen from iron ore. When that happens, the departing oxygen causes micro pores in the ore body, turning it porous. When the eventual product is observed under a microscope, it resembles a honeycomb structure, which looks spongy in texture. Hence the name sponge iron. India ranked first in 2013 by producing 18.679 tons of sponge iron. India is the world's largest producer of sponge iron, most of which is produced primarily through the coal-based method of production.

European managing agencies controlled a large sector of Indian industries. Three of the biggest ones were: Bird Heiglers & Co., Andrew Yule, and Jardine Skinner & Co. 

From the 17th century onwards, several European travelers observed the steel manufacturing in South India, at Mysore, Malabar and Golconda.

Rao Bahadur T.M. Appu Nedungadi  established Nedungadi Bank in 1899 in Calicut, Kerala. It was the first private bank in not just Kerala but the whole South India. The bank was incorporated in 1913.