Mention three restrictions imposed by the British government upon the Indian merchants in the 19th century.

(a) Effects: (i) The functioning of the Indian merchants was limited. For example, they were debarred from trading with Europe in manufactured goods.
(ii) The Indian merchants could export mostly raw materials and food grains which were needed by the British.
(iii) Gradually, shipping business was controlled by the European companies and Indian marchants were edged out of this business.
(b) Till the First World War, the condition of Indian industries had become as mentioned below:
(l) A large sector of Indian industries was controlled by European Managing Agencies.
(ii) These Agencies mobilised capital, set up joint-stock companies and managed them.
(iii) In most instances, Indian financiers provided the capital while the European Agencies made all investment and business decisions.
(iv) The European merchant-industrialists had their own chambers of commerce which Indian businessmen were not allowed to join.