The Impact of Isfahan-dweller Indian Traders on Safavid Trade: A Case Study of Baniyans

Among the main factors of friendly commercial and political relations between Safavid Iran and India were reciprocal needs and policies of Safavid kings concerning trade development. Thus, various regions of Iran, especially Isfahan, had became a good market for Indian goods. Isfahan as a capital of Safavid state was a centre of commercial activities of such Indians as Baniyans, Multanians, and Saddiqiyans, as well as Armenians. Although the Indians played an important role in Safavid trade, because of their engaging in money-changing, usury, and money-sending out, they caused the Safavid economics to suffer a loss that at first glance it seemed to be their commercial presence more harmful. But, upon inspection, this article shows that in fact their presence, by contrast, had many benefits for Iran economics. Considering the impact of Isfahan-dweller Indian trader on Safavid trade, it is studied why they had enjoyed the royal political supports of Safavid kings.