A pargraf on establishment of east india company
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The East India Company was an English company formed for the exploitation of trade with East and Southeast Asia and India. Incorporated by royal charter on December 31, 1600, it was started as a monopolistic trading body so that England could participate in the East Indian spice trade. .
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★»» The East India Company was a private concern formed by some English merchants. They acquired from Queen Elizabeh I in 1600 the exclusive right to carry out trade with the East. This was allowed by the Queen in return for a share in profits. Sir Thomas Roe visited the Mughal court in 1615 and received many trade concessions from Emperor Jahangir. Hence, by 1623, factories had been built in Surat, Broach, and Masulipatnam, Ahmadabad, and Agra.
In 1639, British acquired Madras from a local ruler and fortified the post by building Fort St. George, In 1668. King Charles II of England gave the island of Bombay, which he had received as dowry on his marriage to the Portuguese princess Catherine De Braganza, to the Company. The Company fortified it and by 18th century, it became an important trading town. By the end of the 17th century, the Company had also established a factory at Calcutta and constructed Fort William to protect it. It was thus that the three Presidencies of Madras, Bombay and Calcutta were born, and governors were appointed for each by the Company.