Answer:
(i) The European companies gradually
gained power-first securing a variety of concessions from local courts, then
the monopoly rights of trade.
(ii)
This resulted in a decline of the old ports of Surat and Hoogly, through which
local merchants had operated.
(iii)
Exported from these ports fell dramatically, the credit that had financed the
earlier trade began drying up, and the local bankers slowly went bankrupt.
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