British East India Company

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British East India Company : Synopsis What is British East India Company?: British East India Company, sometimes referred to as "John Company", was one of the first joint-stock companies. It was granted an English Royal Charter by Elizabeth I on December 31, 1600, with the intention of favouring trade privileges in India. The Royal Charter effectively gave the newly created Honourable East India Company (HEIC) a 21 year monopoly on all trade in the East Indies. The Company transformed from a commercial trading venture to one that virtually ruled India as it acquired auxiliary governmental and military functions, until its dissolution in 1858. British East India Company statistics: Founded: on the last day of 1600 through a royal charter signed by Queen Elizabeth I. In many ways it failed to achieve its initial aim of trade in spices and other items favoured by the English people. British subsequent dominance over the Indian subcontinent came only following the Dutch withdrawal for the more lucrative isles of modern Indonesia. Introduction: Initial contacts with the British |The Portuguese were actually the first European power to come into contact with India when Vasco de Gama sailed into Calico in 1498. After that | |date, Portuguese ships would frequently return to Europe laden with spices and commodities that would fetch fabulous prices. Other European powers| |looked enviously at this stream of exotica coming from the Orient. Portugal managed to hold on to its pre-eminent position largely in part to the | |Treaty of Tordesillas of 1494. This treaty had been created to divide the New Worlds between the Catholic countries of Portugal and Spain. In | |effect they had carved up these New Worlds with Spain receiving a monopoly of power in most of South America and Portugal in the Indies. Working | |together, the two Catholic countries were able to
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