Economy of ancient Tamil country trade. Industrial activity flourished. Inland trading was conducted primarily through barter in busy market places by merchant associations and commercial lending institutions. Merchants formed associations that operated autonomously, without interference from the state. The people of ancient Tamil country engaged in brisk overseas trade with Rome; the trade reached a peak after the discovery of a direct route for merchant ships between Tamilakam and Egypt, taking advantage of the monsoon winds. Pepper, pearls, ivory, textiles and gold ornaments were exported from Tamilakam, and the main imports were luxury goods such as glass, coral, wine and topaz. Foreign trade brought in
Conference of Rulers a similar body called the Council of Sultans was constituted under the short-lived Malayan Union. The Council comprised the Governor of the Union, who acted as President, the nine rulers, and the Chief Secretary, Attorney-General and Financial Secretary as "ex officio" members. The sole functions of the Council were to consider legislation related to Islam (a function carried out by a subcommittee of the Council, comprising only the Muslim members) and to advise the Governor of the Union or the ruler of any state as necessary. The first Conference of Rulers was convened on 31 August 1948, the year the