Question

TRACE THE HISTORY OF HOW THE EEIC WAS ABLE TO ESTABLISH TRADING POSTS IN INDIA.

Answer 1

Answer:

Charter granted to the East India Company. Queen Elizabeth I of England grants a formal charter to the London merchants trading to the East Indies, hoping to break the Dutch monopoly of the spice trade in what is now Indonesia.

Explanation:

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Answer 2

Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies",[5][6] the company rose to account for half of the world's trade,[7] particularly in basic commodities including cotton, silk, indigo dye, salt, spices, saltpetre, tea, and opium. The company also ruled the beginnings of the British Empire in India.[7][8] In his speech to the House of Commons in July 1833, Lord Macaulay explained that since the beginning, the East India Company had always been involved in both trade and politics, just as its French and Dutch counterparts had been.[9]

The company received a Royal Charter from Queen Elizabeth I on 31 December 1600, coming relatively late to trade in the Indies. Before them the Portuguese Estado da Índia had traded there for much of the 16th century and the first of half a dozen Dutch Companies sailed to trade there from 1595. These Dutch companies amalgamated in March 1602 into the Dutch East India Company (VOC), which introduced the first permanent joint stock from 1612 (meaning investment into shares did not need to be returned, but could be traded on a stock exchange). By contrast, wealthy merchants and aristocrats owned the EIC's shares.[10] Initially the government owned no shares and had only indirect control until 1657 when permanent joint stock was established.[11]