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Medha Kudaisya

Merchant communities have dominated the Indian commercial landscape for centuries. These groups span different religions and regions across the country, and even beyond. They include the Marwaris, Banias, and Khatris in the north, the Chettiars and Komatis in south India; the Jains, Sindhis, Parsis, and the Bohras, Memons, and Khojas in the western parts of the subcontinent. While business activity was not restricted to these groups, they dominated it until at least the mid-20th century. These mercantile communities underwent a constant process of evolution in response to changing political and economic developments. They were not homogenous groups either and were divided internally by subcaste, region, religious affiliation, and language. Yet, they found it advantageous to function collectively and formed community organizations, which facilitated their economic interests. These communities played an important role in the 16th century in integrating India in the new trading networks, thereby helping in the making of a world economy. By the mid-19th century, many among them made the transition to industrial activity. These communities dominated commerce and industry till the late 1960s and 1970s, when new groups began to emerge.