why did the European trading companies compete with one another
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1) The exploration of sea route to India by Vasco da Gama paved the way for European companies like English, Dutch, French, and Portuguese etc to make flourishing trading business in India
2) These companies bought India’s resources such as silk, cotton, spices etc at cheap rates and sold the same in European market at high prices thereby making profits
3) This method of making high profits by different trading companies lured other trading agents around the world to make business in India
4) At the same time, English East India Company acquired a royal charter which made it to be the sole trading company in England to do trading business with India. As a result, to establish trade contacts European trading companies set up trading posts and warehouses in feasible points such as Surat, Masulipatnam, Kolkata port etc
5) This led to rivalry among other trading companies and as such this situation led to competition, conflicts among them that spread in India in due course of time
Hope this answer helps you.
2) These companies bought India’s resources such as silk, cotton, spices etc at cheap rates and sold the same in European market at high prices thereby making profits
3) This method of making high profits by different trading companies lured other trading agents around the world to make business in India
4) At the same time, English East India Company acquired a royal charter which made it to be the sole trading company in England to do trading business with India. As a result, to establish trade contacts European trading companies set up trading posts and warehouses in feasible points such as Surat, Masulipatnam, Kolkata port etc
5) This led to rivalry among other trading companies and as such this situation led to competition, conflicts among them that spread in India in due course of time
Hope this answer helps you.
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