Based on an array of sources, the author describes how in a feudalsystem, on the
eve of the colonial period, the output of variousproducts was transformed from
household village crafts toproduction for various markets, with the beginning of
wage labourand dependence on merchant capital. The author also examinespatterns
of trade , rural and urban markets, merchant state nexus,increasing engagement
of the feudal class in trade and finally thenew forms and volume of trade and
commodity production with thearrival of european merchants.