Encyclopedia of India–China Cultural Contacts v2.c13.s3.t2.140

v2.c13.s3.t2.140

Several of them made huge fortunes from the China trade and the profits from this trade served as the foundation for many big business empires. Among the best known of Bombay’s China traders were Sir Jamsetjee Jejeebhoy, David Sassoon and his family, the Tata family, the Petits, and others. With their enormous wealth, much of it derived from the China trade and their substantial donations to charity and to the development of Bombay’s urban infrastructure, these traders have been called the founding fathers of Bombay. A number of Bombay merchants spent years in Canton (Guangzhou), Macau, Hong Kong and Shanghai and also contributed to the development of Hong Kong in particular. The trade with China also contributed to the development of the shipbuilding industry centred in Bombay. A flourishing trade in manufactured cotton yarn also began to develop between Bombay and China in the 19ᵗʰ century CE. In fact, this trade was crucial to the stabilisation of the fledgling cotton textile industry in India. In short, the commercial connection with China was crucial to the emergence of Bombay as the pre-eminent port and commercial-industrial centre of India.