Inhoudsopgave
What is the history of the British East India Company?
On 31 December 1600, the British East India Company received a Royal Charter from the British monarch Elizabeth I to trade with the East Indies. The company went on to colonise the Indian subcontinent. Aspirants can find information on the structure and other important details related to the IAS Exam,in the linked article.
What did the Dutch East India Company do?
Within the first two decades of the 17th century, the Dutch East India Company or Vereenigde Oostindische Compagnie, (VOC) was the wealthiest commercial operation in the world with 50,000 employees worldwide and a private fleet of 200 ships. It specialised in the spice trade and gave its shareholders 40% annual dividend.
Why did the British leave India in 1874?
Because of the Indian Uprising in 1857, the company lost all of its administrative powers and on 1 January, 1874 an Act came into effect dissolving the company in the summer of the same year. Then British India became a formal crown colony.
Why didn’t the British East India Company trade tea?
Unfortunately Britain was on the gold standard at the time, and had to import silver from continental Europe, making the whole tea trade financially unviable. The East India Company didn’t actually own many of the ships in its fleet. It rented them from private companies, many of which were based at Blackwall in East London.
How was the new English East India Company a monopoly?
The new English East India Company was a monopoly in the sense that no other British subjects could legally trade in that territory, but it faced stiff competition from the Spanish and Portuguese, who already had trading outposts in India, and also the Dutch East Indies Company, founded in 1602.
Why did the East India Company fail in India?
Why did the East India Company fail? Although it started as a monopolistic trading body, the East India Company became involved in politics and acted as an agent of British imperialism in India. This led to government intervention, and, after the Indian Mutiny (1857) hastened its end, it ceased to exist in 1873.
What is the East India Company (EIC)?
To complement your preparation for the upcoming exam, check the following links: The East India Company (EIC) was also known as the Honourable East India Company or simply, the John Company informally. It was a joint stock company established with the purpose of trading with the East Indies.