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
Economy of ancient Tamil country or "Nikamam". Stone inscriptions at Mangulam (c. 200 BCE) and pottery inscriptions found at Kodumanal refer to merchant guilds as "nikamam" and the members of the guilds as "nikamattor". These findings suggest that merchant guilds were established at several industrial and trade centres of ancient Tamil country. Many of these merchant associations acted in union in their public activities. They were autonomous, meaning that they enjoyed freedom from state interference but also suffered from the lack of state backing. Merchants were expected to abide by a code of conduct, which was: "Refuse to take more than your due and never