write a short note on administration of East India Company
Answers
East India company allowed only British to trade in their country and no other country or trading group was allowed to trade with India
In 1600 royal charter granted to East India Company granting the sole right to trade with the East.
East India Company bought goods at a cheap price and sold them at higher price in Europe.
Cotton and silk produced in India had a big market in Europe.
Pepper, cloves, cardamom and cinnamon were in great demand.
East India company and its officials accumulated wealth by the trade of India and caught attention of other european powers.
English east India company had to compete with other europian companies such as Franch, Dutch and Portugese.
Because of the powerfull naval force British won over other european powers and became the champiion of struggle of monotony of trade.