WHEN AND HOW WAS THE ENGLISH EAST INDIA COMPANY FORMED?
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Answer:
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. ... Learn more about the spice trade.
Answer:
The East India Company was initially created in 1600 to serve as a trading body for English merchants, specifically to participate in the East Indian spice trade. It later added such items as cotton, silk, indigo, saltpeter, tea, and opium to its wares and also participated in the slave trade
The English East India Company was set up in 1600 when Queen Elizabeth I granted a charter giving the company sole rights in England to establish trade relations with the East.In 1651, the first English factory was established on the banks of river Hugli in West Bengal. As trade expanded, they started building a fort around the factory and eventually bribed the Mughals to give the Company zamindari rights over three surrounding villages.
In 1717, the Company convinced Mughal Emperor Aurangzeb to grant a royal order or farman for duty free trade.
Nawabs Murshid Quli Khan, Alivardi Khan and Sirajuddaulah were against the Company acquiring territories and expanding its trade in Bengal. The nawabs demanded huge tributes from the Company to continue trading and prevented it from minting coins and extending its fortifications.
All these conflicts between the nawabs and the Company eventually resulted in the famous Battle of Plassey, which marked the start of the Company rule in India.
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