During the Mughal Empire in India (1526-1857), trade and commercial practices were crucial for the economic prosperity of the empire.
The Mughals established a well-organized system for managing and promoting trade, and various personnel played essential roles in facilitating commercial activities. Here are key personnel and practices related to trade and commerce under the Mughals:
1. Sarraf (Money Changers):
- Role: Sarrafs were money changers who facilitated currency exchange and provided financial services. They played a crucial role in trade transactions, especially in the context of diverse currencies used in international trade.
2. Shroff (Bankers):
- Role: Shroffs were bankers responsible for handling financial transactions, including money lending and managing accounts. They operated as intermediaries between merchants, facilitating credit and financial transactions.
3. Seth and Mahajan:
- Role: Seths and Mahajans were wealthy merchants and financiers who engaged in large-scale trade and finance. They often funded the activities of the Mughal government and played a significant role in the economic prosperity of the empire.
4. Banjaras:
- Role: The Banjaras were a community of transporters and traders who played a crucial role in the transportation of goods, especially in the context of long-distance trade. They used large caravans of pack animals to transport goods across the empire.
5. Dawoodi Bohras:
- Role: The Dawoodi Bohras, a trading community, were active participants in Mughal commerce. They were involved in trade, finance, and moneylending, contributing significantly to the economic activities of the Mughal Empire.
6. Karwan Bashi:
- Role: Karwan Bashi refers to the caravan leaders who managed and led trade caravans. They played a crucial role in coordinating the movement of goods, ensuring safe transport, and negotiating with local authorities along trade routes.
7. Shahbandar:
- Role: Shahbandars were port officials responsible for overseeing maritime trade activities. They played a key role in regulating and facilitating trade at major ports, ensuring the smooth movement of goods in and out of the empire.
8. Firangi Merchants:
- Role: Firangi merchants were European traders who established trading posts in various parts of the Mughal Empire. The Mughals engaged in diplomatic and commercial relations with European powers, including the Portuguese, Dutch, English, and French.
9. Diwans and Amils:
- Role: Diwans and Amils were revenue officials appointed by the Mughal administration. They were responsible for collecting revenue, including taxes on trade and commerce, and ensuring financial stability.
10. Karoris:
- Role: Karoris were officials responsible for weighing and measuring goods to ensure fairness in trade transactions. They played a crucial role in maintaining standards and preventing fraud in markets.
Commercial Practices:
- **Taxation on Trade:
- The Mughal Empire imposed various taxes on trade, including customs duties, octroi, and other levies. Revenue from trade contributed significantly to the imperial treasury.
- **Minting of Coins:
- The Mughals had a well-organized system of minting coins, facilitating trade by providing a standardized currency. The stability of the currency encouraged domestic and international trade.
- **Trade Regulations:
- The Mughal administration implemented trade regulations to maintain order in markets, ensure fair practices, and protect the interests of traders and consumers.
- **Marketplaces and Bazaars:
- Marketplaces and bazaars were essential components of Mughal cities. These vibrant centers of commerce hosted a variety of goods, attracting traders from different regions.
While trade and commerce flourished during the Mughal period, the decline of the empire and the emergence of European colonial powers in the Indian subcontinent would eventually bring about significant changes in commercial practices and structures.