How did English East India Company developed into a full fortified company.
Answers
Answer:
In 1600, a group of English businessmen asked Elizabeth I for a royal charter that would let them voyage to the East Indies on behalf of the crown in exchange for a monopoly on trade. The merchants put up nearly 70,000 pounds of their own money to finance the venture, and the East India Company was born.
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Answer:
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Explanation:
The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or the British East India Company, and informally known as John Company,[2] Company Bahadur,[3] or simply The Company, was an English and later British joint-stock company.[4] It was formed to trade in the Indian Ocean region, initially with the Moghuls of India and the East Indies, and later with Qing China. The company ended up seizing control of large parts of the Indian subcontinent (and briefly Afghanistan), colonised parts of Southeast Asia, and colonised Hong Kong after the First Opium War.
Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies",[5][6] the company rose to account for half of the world's trade,[7] particularly in basic commodities including cotton, silk, indigo dye, salt, spices, saltpetre, tea, and opium. The company also ruled the beginnings of the British Empire in India.[7][8] In his speech to the House of Commons in July 1833, Lord Macaulay explained that since the beginning, the East India Company had always been involved in both trade and politics, just as its French and Dutch counterparts had been.[9]