Question

In 180, the East India Company acquired a charter from the ruler of England, Queen Elizabeth I , granting it the sole right to

trade with the East. This meant that no other trading group in England could compete with the East India Company. With

this charter the company would venture across the oceans, looking for new lands from which it could buy goods at a cheap

price and carry them back to Europe to sell at higher prices. The Company did not have to fear competition from other

English trading companies. Mercantile trading companies in those days made profit primarily by excluding competition, so

that they could buy cheap and sell there.

The first English factory was set up on the banks of the river Hoogly in 1651. This was the base from which the Company’s

traders, known at that time as ‘factors’ , operated. The factory had a warehouse where goods for export were stored, and it

had offices where Company officials sat. As trade expanded, the Company persuaded merchants and traders to come and

settle near the factory. By 1696 it began building a fort around the settlement. Two years later it bribed Mughal Officials

into giving the Company zamindari rights over three villages. One of these was Kalikata, which later grew into the city of

Calcutta or Kolkata as it is known today. It also persuaded the Mughal Emperor Aurangazeb to issue a Farman granting the

Company the right to trade duty free.

Read the above passage and answer the following questions:

1. What was the charter given about?

2. Define Mercantile.

3. Where did East India Company set their factory first?

4. What were the zamindari rights?

5. What kind of farman were given by Aurangazeb?

6. What attracted European trading companies to India?

7. What were the areas of conflict between the Bengal nawabs and the East India Company?
❣solve it✏ guys​

Answer 1

Answer:

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Explanation: