Question

Mention the three major steps taken by east India company to develop a system of management and control to assert a monopoly over right to trade.

Answer 1

The three major steps taken by East India Company to develop a system of management and control to develop a system of management and control to assert a monopoly over right to trade are:

*They formed various alliances with many native rulers who supported them over other European companies with respect to trading related activities.

*They took over control of areas like Bombay, Madras and Bengal where they could easily establish monopoly over trade.

*They were able to defeat rival European nations and countries.  

Answer 2

Answer:

The East India company employed various steps; out of them the major three were using political power to establish monopoly on Indian trade, establishment of direct contact between producers and the company, and trading was done on a fixed price that was not negotiable by any means.  

With these steps the company established the complete managing control on the trade to ensure monopoly.