Describe ‘nagarams’.

Hint: It was basically, a town where people would do commercial activities which would generate money for the people and it became a capital market where all the economic activities take place.

Complete answer: In the middle the period around the eighth – ninth centuries, nagarams was a town where all the commercial activity would take place through a corporate body that is called nagarams. According to some studies to some extent by some scholars in the context of elucidation of medieval structure and social formation. At the start of the studies, there was not a lot of difference between any other agricultural village and nagarams as the form is was utilized by the state of local administration, but after sometime around the twelfth century, it used its character to promote the commerce but associating itself with the other merchants. In the later phase, it was seen that various people used their network formation to accelerate various sort of commercial activities from the commercial market. It came under the rule of the Chola’s.

Note: The Chola dynasty had coins which were made of precious metal like gold, silver, and copper. It also had three main foundations in it, one of which was Nagaram town which would act as a redistribution centre for items which were not produced locally. Things which were made by the artist of nagarams were used to do trades all over the world.