Question

Why was the East India company in need of money? in short ​

Answer 1

Answer:

Heya Mate:

♠️East India Company was in need of Money due to industrilization.

♠️So they started making colonies like in India.

Answer 2

$\huge{\underline{\mathscr{\purple{Hey, mate....!!!}}}}$

$\huge{\red{\mathfrak{ANSWER:-}}}$

The East India Company needed money to get started because of the expenses involved in sending ships with crews and establishing trade outposts. The company had to secure a royal charter but upfront costs required early investment. With the granting of the charter, investors could be more confident that they would reap the rewards of the East India Company's endeavors in the Indian Ocean as there would be no other competition (at least within the United Kingdom) to harm revenue.