Question

The British merchants well known group started trading with India on 31st December 1600 AD and established the East India Company. It also granted the trade privileges of 15 years to trade with India from the British Queen Elizabeth I. What was the name of that group? ​

Answer 1

Answer:

The East India Company

The East India Company was an English company formed for the exploitation of trade with East and Southeast Asia and India. Incorporated by royal charter on December 31, 1600, it was started as a monopolistic trading body so that England could participate in the East Indian spice trade.

Answer 2

The name of the group was Adventurers.

• An appeal to Queen Elizabeth I for an authorization to set a voyage to the Indian Ocean was sent by few merchants of London.
• Several loaded ships were given permission, but a party of active merchants popularly known as the Adventurers succeeded in carefully securing a Royal Charter.
• Under the proper name of elected Governor of London and the Merchants Company trading in the east, the amended charter was properly obtained in the year 1600.
• The amended charter granted the recently formulated corporation an effective monopoly on lucrative trade with all nations for 15 years.