Market control was first introduced in medieval India by?
VerifiedAnswer: Alauddin Khilji
Explanation:
Alauddin Khilji (1296-1316 CE), the second ruler of the Khilji dynasty, was the first to implement a comprehensive market control system in medieval India. His economic reforms were revolutionary for their time and demonstrated remarkable administrative foresight.
The primary motivation behind Alauddin's market control policy was to maintain a large standing army without burdening the state treasury. By controlling prices of essential commodities, especially food grains, he could pay lower salaries to soldiers while ensuring they could afford basic necessities. This strategy helped him sustain his military campaigns and territorial expansions.
The market control system included several key features: fixed prices for essential goods like wheat, barley, rice, and cloth; establishment of state-controlled markets in Delhi where these fixed prices were strictly enforced; appointment of market superintendents (shahna-i-mandi) to monitor compliance; and severe punishments for merchants who violated price regulations, including fines, imprisonment, and even physical punishment.
To ensure adequate supply at controlled prices, Alauddin established state granaries and warehouses. He also created a network of wholesale merchants who were licensed to trade in essential commodities. These merchants had to maintain adequate stocks and sell at prescribed rates. The Sultan's intelligence system closely monitored market activities to prevent black marketing and hoarding.
The system was remarkably successful during Alauddin's reign. Contemporary historians like Barani praised its effectiveness, noting that prices remained stable even during times of scarcity. However, the success was largely dependent on the Sultan's strong administrative control and personal supervision. The system began to weaken after his death and was eventually abandoned by his successors.
Alauddin's market control policy is considered one of the earliest examples of systematic economic regulation in Indian history. It demonstrated sophisticated understanding of supply-demand dynamics and showed how state intervention could stabilize prices for strategic purposes. This pioneering effort in medieval economic planning makes Alauddin Khilji historically significant beyond his military conquests.
