what were the reasons for the establishment of East India Company
Answers
Starting as a monopolistic trading body, the company became involved in politics and acted as an agent of British imperialism in India from the early 18th century to the mid-19th century.
In addition, the activities of the company in China in the 19th century served as a catalyst for the expansion of British influence there.
The company was formed to share in the East Indian spice trade. That trade had been a monopoly of Spain and Portugal until the defeat of the Spanish Armada (1588) by England gave the English the chance to break the monopoly.
Until 1612 the company conducted separate voyages, separately subscribed. There were temporary joint stocks until 1657, when a permanent joint stock was raised.
The company met with opposition from the Dutch in the Dutch East Indies (now Indonesia) and the Portuguese.
The Dutch virtually excluded company members from the East Indies after the Amboina Massacre in 1623 (an incident in which English, Japanese, and Portuguese traders were executed by Dutch authorities), but the company’s defeat of the Portuguese in India (1612) won them trading concessions from the Mughal Empire.
The company settled down to a trade in cotton and silk piece goods, indigo, and saltpetre, with spices from South India. It extended its activities to the Persian Gulf
The reasons for the establishment of the East India Company given below
Explanation:
- The East India Company also came to be known as the English East India Company.
- During 1600, Queen Elizabeth granted the charter to the East India Company to trade with the East.
- The main purpose of this company was to trade with India, East, and Southeast Asia.
- The company formed to profit from the spice trade in Europe.
- The company settles down in India for trading purposes, which include cotton, silk, and spices from South India.
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East India company
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