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Essay On Marwaris

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In shaping the history of India, the Marwaris had made a large impact. Even up until today, this business group is the most popular when business class is mentioned. However, their history brings them back long ago, since the 19th century, where they start moving around. Marwaris is definitely the most economically powerful community in all of India. They went from traders to industrialists, with religious reliefs as a contributing factor to their success as well.
Starting from the 1813, Charter Act of the British East India Company was renewed and it abolished the monopoly of trade with India. This means that India was opened up to private investments now. Therefore, many British trading companies established in Bombay and Calcutta. However, the British lacked an intermediary in the area. To sell their goods from England as well as getting raw materials from rural areas, the British needed an extensive number of local agents to help them. This is where to Marwaris acted as their intermediary traders and …show more content…

The migrants started as clerks, brokers or agents to the larger Marwaris firms. The early Marwaris migrants helped the latter ones to enter behind them. Thus, the existence of “great firms” such as Tarachand Ghanshyamdas, founded by the Poddar of Ramghar, and Sevaram Ramrikhadas, founded by the Singhania family, was a critical element in enabling the migration of the Marwaris. From being the employees of the jute firms, the Marwaris bought over the stocks the many jute firms, which were previously under the British merchant houses. With past managerial experience, they floated shares to build new jute mills and other companies. Due to the oversubscription and stock exchange regulations, the Marwaris were able to control a mill even if they own less than 10 to 20 percent of the shares. This led them in dominating the

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