Let me know about Portuguese EIC in India? *puerile minds stay back*
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The Portuguese East India Company (Portuguese: Companhia do commércio da Índia or Companhia da Índia Oriental) was a short-lived ill-fated attempt by Philip III of Portugal to create a national chartered company to ensure the security of Portuguese interests in India in the face of increasing influence by the Dutch and English following the personal union of the Portuguese and Spanish Crowns.
Portuguese trade with India had been a crown monopoly since the Portuguese captain Vasco da Gama opened the sea route to India in 1497–1499. The monopoly had been managed by the Casa da Índia, the royal trading house founded around 1500, it is a first to start a joint stock company to trade in india. The Casa was responsible for the yearly India armadas. However, by 1560, the Casa's finances were in dire straits and in 1570, King Sebastian of Portugal issued a decree opening up trade to India to any private Portuguese national. As few took up the offer, the free trade decree was replaced in 1578 by a new system of annual monopolies, where the Casa sold India trading contracts to a private Portuguese merchant consortium, granting them a monopoly for one year. This annual contract system was abandoned in 1597, and the royal monopoly resumed.
The Iberian Union of 1580, which gave King Philip II of Spain the crown of Portugal, changed little at first. However, the increasing influence of the Dutch and English East India Companies on the Indian subcontinent and elsewhere in the East Indies after 1598 led the king to experiment with different arrangements to secure the Portuguese colonial empire. In 1605, he created the Conselho da Índia, to bring affairs in Portuguese India under closer supervision of the Habsburg crown. But this conflicted with older lines of Portuguese authority, and the council was eventually dissolved in 1614
The Companhia proved unsuccessful. Investors remained skeptical, overseas Portuguese merchants rejected the new Companhia's authority, and the Anglo-Dutch breach of the old Portuguese empire in Asia had become irreparable, squeezing margins on the spice trade. The Companhia proved unprofitable, and soon ceased operating and was liquidated in April, 1633.[1] The Casa da Índia and the India trade was brought back under the supervision of the Conselho da Fazenda.
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