Name the single most important power that emerged during the declining phase of Mughal dynasty.
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The single, most important power that emerged during the declining phase of Mughal dynasty was the British East India Company.
Originally started as a trading company in Britain to buy commodities like cotton, silk, indigo, spices, etc., from India and China, it set its sight on controlling the Indian sub-continent as the power of the Mughals started to decline. The battles of Plassey and Buxar against the Nawab of Bengal saw the British East India Company emerge as a military and political power in India.
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