European Managing Agencies which controlled a large sector of the Indian industries were (i) Bird Heiglers & Co. (ii) Andrew Yule, and (iii) Jardme Skinner & Co. Functions : (i) European Managing Agencies mobilised capital. (ii) They 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. The European merchants- industrialists had then own chambers of commerce which Indian businessmen were not allowed to join.