The British Government in the 19th century tighteneed their control over Indian merchants. (i) They were barred from trading with Europe in manufactured goods. (ii) They had to export mostly raw materials and food grains — raw cotton, opium, wheat and indigo — required by the British. They were also edged out of the shipping industries. (iii) European Managing Agencies, in fact, controlled a large sector of Indian business : three of the biggest ones were, Bird Heighlers Co, Andrew Yule, and Jardine Skinnr & Co. In most cases Indian financiers providedthe capital while the European Agencies made all investment and business decision. Indian businessmen were not allowed to join European merchant, industrialists.