The East India Company (EIC) [a] was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies
West Indies
The West Indies is a region of the North Atlantic Ocean and the Caribbean that includes the island countries and surrounding waters of three major archipelagos: the Greater Antilles, the Lesser Antilles, and the Lucayan Archipelago.
Indian subcontinent
The Indian subcontinent, is a southern region and peninsula of Asia, mostly situated on the Indian Plate and projecting southwards into the Indian Ocean from the Himalayas. Geologically, the Indian subcontinent is related to the land mass that rifted from Gondwana and merged with the Eurasian pl…
Southeast Asia
Southeast Asia, or Southeastern Asia, is a subregion of Asia, consisting of the countries that are geographically south of China and Japan, east of India, west of Papua New Guinea, and north of Australia. Southeast Asia is bordered to the north by East Asia, to the west by South Asia and the B…
What was the purpose of the East India Company?
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.
What happened to the East India Company after 1873?
Although it started as a monopolistic trading body, it became involved in politics and acted as an agent of British imperialism in India from the early 18th century to the mid-19th century. After being weakened for decades, it ceased to exist as a legal entity in 1873. Why did the East India Company fail?
How many factories did the British East India Company have in India?
The company established trading posts in Surat (1619), Madras (1639), Bombay (1668), and Calcutta (1690). By 1647, the company had 23 factories, each under the command of a factor or master merchant and governor, and 90 employees in India.
When was the first regulation of the East India Company introduced?
The Regulating Act of 1773 was the first but did not prove to be a success and subsequently in 1784 the British government passed Pitt's India Act, which created the India Board to regulate the company's governance of India. Following this the government intervened more frequently in Company affairs in a series of East India Company Acts .
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What was East India company short answer?
What was the East India Company? 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.
What was the main aim of the East Indian company?
The original aim of the East India Company was to trade. The company was chartered by Queen Elizabeth I for trade with Asia. The original object of the group of merchants involved was to break the Dutch monopoly of the spice trade with the East Indies.
Why was the East India Company so powerful?
The East India Company's royal charter gave it the ability to “wage war,” and initially it used military force to protect itself and fight rival traders. In 1757, however, it seized control of the entire Mughal state of Bengal.
Who was part of the East India Company What was it important?
The English East India Company was incorporated by royal charter on December 31, 1600 and went on to act as a part-trade organization, part-nation-state and reap vast profits from overseas trade with India, China, Persia and Indonesia for more than two centuries.
What happened to the East India Company?
The Company lost all its administrative powers following the Government of India Act of 1858, and its Indian possessions and armed forces were taken over by the Crown.
How did the East India Company take over India?
The chaotic conquest of India After military victories at the battles of Plassey (1757) and Buxar (1764), the EIC was granted the diwani of Bengal – control over the administration of the region and the right to collect tax revenue.
What did East India Company become?
The amalgamated company became the United Company of Merchants of England Trading to the East Indies.
Who started the East India Company?
Thomas SmytheJohn WattsRoyal charterEast India Company/Founders
Why did the British East India Company do to dominate most of India?
The British East India Company came to India as traders in spices, a very important commodity in Europe back then as it was used to preserve meat. Apart from that, they primarily traded in silk, cotton, indigo dye, tea and opium.
Who owned the East India Company?
Sanjiv MehtaThe East India Company, which once owned India, in one of the great ironies of history, is now owned by an Indian entrepreneur named Sanjiv Mehta. The company was founded in 1600 to import spices, tea and exotic items to Europe from India. For years the company remained dormant, stuck in memories and history books.
What was the impact of the British East India Company?
The effects of the British East India Company were very strong and widespread. It helped the establishment of the British Empire. It was a turning point in the history of economics and set the trends for several centuries to come. Globalization is also another significant influence of this company.
When did the East India Company End?
June 1, 1874East India Company / Ceased operations
What was the prime objective of company?
1] Profit Earning Profit is the extra income over the expenses. The main objective of any business is to earn a profit.
What was the sole aim of the British Trades?
so they come in india only for business. but when they stayed here they recognised that we were credulous and gullible. so they took hoe and corner policy to rule here. and start their policy....they mainly came for business purposes...
Why did the British East India Company do to dominate most of India?
The British East India Company came to India as traders in spices, a very important commodity in Europe back then as it was used to preserve meat. Apart from that, they primarily traded in silk, cotton, indigo dye, tea and opium.
Why is the East India Company in Pirates of the Caribbean?
It is because the Company wants to expand into the Caribbean that Lord Beckett arrives at Port Royal in Dead Man's Chest, overseeing the expansion while knowing that he must eradicate piracy before making any progress....East India Trading Company (Pirates of the Caribbean)UniversePirates of the CaribbeanKey peopleCutler Beckett Davy JonesPurposeTo eradicate piracy3 more rows
How did the East India Company become a military force?
By 1763, it had 26,000; by 1778, it had 67,000. It recruited largely Indian troops and trained them along European lines. The military arm of the East India Company quickly developed into a private corporate armed force used as an instrument of geo-political power and expansion instead of its original purpose as a guard force. Because of this, the EIC became the most powerful military force in the Indian subcontinent. As it increased in size, the army was divided into the Presidency Armies of Bengal, Madras and Bombay, each of which recruited its own infantry, cavalry, and artillery units. The company's merchant ships, called East Indiaman were usually well armed to defend against pirates. The EIC also maintained a naval arm called the Bombay Marine; in 1830 this was renamed the Indian Navy.
When did India become a company?
Company rule in India effectively began in 1757 after the Battle of Plassey and lasted until 1858 when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown assuming direct control of India in the form of the new British Raj .
What is EIC trading?
1947– 0000. v. t. e. The East India Company ( EIC ), also known as the East India Trading Company ( EITC ), the English East India Company or (after 1707) the British East India Company, and informally known as John Company, Company Bahadur, or simply The Company was an English and later British joint-stock company founded in 1600.
What was the main commodity of the 1700s?
Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies", the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, saltpetre, tea, and opium.
Why did the British condemn the East India Company?
British leaders condemned the East India Company for permitting the events to occur. In the aftermath of the Rebellion, under the provisions of the Government of India Act 1858, the British Government nationalised the company.
Why did the East India Company invade Afghanistan?
During the Great Game, the East India Company wished to control Afghanistan to prevent a Russian Empire advance through the Afghan mountains towards India, although other motivations were also cited such as fear of a religious uprising in the princely states. The British allied with Afghan emir Dost Mohammad Khan, but following the latter's contacts with the Russians and Qajar Persians to extinguish the Sikh Empire in Punjab, the company's "Army of the Indus " invaded Afghanistan to put Shah Shujah Durrani on the throne. However following the start of an Afghan insurrection, the company was forced to retreat from Kabul in 1842 in what became one of the worst British military disasters.
Where did the East India Company dock?
Company ships docked at Surat in Gujarat in 1608. The company established its first Indian factory in 1611 at Masulipatnam on the Andhra Coast of the Bay of Bengal; and a second at Surat in 1612. The high profits reported by the company after landing in India initially prompted James I to grant subsidiary licences to other trading companies in England. However, in 1609 he renewed the East India Company's charter for an indefinite period, with the proviso that its privileges would be annulled if trade was unprofitable for three consecutive years.
Why was the East India Company created?
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 company eventually became involved in politics ...
What contributed to the end of the East India Company?
A number of things contributed to the end of the East India Company. It acquired control of Bengal on the Indian subcontinent in 1757, and, as the company was an agent of British imperialism, its shareholders were able to influence British policy there. This eventually led to government intervention.
Why was the Royal Charter established?
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. It also traded cotton, silk, indigo, saltpeter, and tea and transported slaves.
What was the original United Company?
The original company faced opposition to its monopoly, which led to the establishment of a rival company and the fusion (1708) of the two as the United Company of Merchants of England trading to the East Indies. The United Company was organized into a court of 24 directors who worked through committees.
What was the name of the company that landed in Singapore in 1819?
Gradually during the 18th century…. Singapore: East India Company. In January 1819 Sir Stamford Raffles of the English East India Company, searching for a trading site, forestalled by the Dutch at Riau, and finding the Carimon (Karimun) Islands unsuitable, landed at Singapore.
What is the name of the British East India Company?
Alternative Titles: British East India Company, English East India Company, Governor and Company of Merchants of London Trading into the East Indies, United Company of Merchants of England Trading to the East Indies. East India Company, also called English East India Company, formally (1600–1708) Governor and Company of Merchants ...
When did India lose control of the Spice Trade?
From the late 18th century it gradually lost both commercial and political control. In 1873 it ceased to exist as a legal entity. Spice trade. Learn more about the spice trade.
