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In the present times, whenever discussions about riches arise, the names of Mukesh Ambani and Gautam Adani are usually the first to come up. However, did you know that even during the British rule in India, Indian merchants held considerable influence in the rice trade? One such wealthy figure was Seth Fateh Chand, also known as 'Jagat Seth'. This name was given to him because he was both the greatest international banker of the 18th century and a creditor to the British. His net worth at the time was comparable to that of modern-day prominent tycoons.

He was considered a financial powerhouse during the British colonial era and played a significant role in the global business sphere. Roben Orme, an official historian of the British East India Company, hailed Jagat Seth as one of the world's greatest bankers and money changers. In the 1750s, his total wealth was estimated at around 140 million rupees.

Jagat Seth was a formidable figure in Bengal's financial matters, and he had a significant influence in the minting of coins. His banking network spanned across cities such as Kolkata, Dhaka, Delhi, and even Patna. He developed a sophisticated internal communication system to boost trade between different cities. He was a key player in the commerce of the era.

However, his family's fortunes eventually dwindled during the British rule due to the increasing dominance of the British East India Company. Reports suggest that the loans provided by Jagat Seth to the British were never fully repaid. He even offered the British three crore rupees to support their campaign against Siraj-ud-Daulah.

By the start of the 20th century, the name of Jagat Seth and his family had faded into obscurity. His residence, which housed secret underground chambers for monetary transactions, was turned into a museum in 1980. Located in Murshidabad, West Bengal, this historic site holds a rich legacy of the financial prowess that Jagat Seth once represented.

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