| Title |
INDIA - FREEDOM
STRUGLE - EAST INDIA COMPANY |
|
Date-wise Events |
- December 31, 1600: East
India Company was founded on this day.
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|
Description |
- The East India Company (EIC) was originally chartered as
the Governor and Company of Merchants of London trading into
the East Indies.
- Formed to pursue trade with the East Indies but that
ended up trading mainly with the Indian subcontinent, Qing
Dynasty China, North-West Frontier Province and Balochistan.
- The company rose to account for half of the world's
trade, particularly trade in basic commodities that included
cotton, silk, indigo dye, salt, saltpetre, tea and opium.
- The company also ruled the beginnings of the British
Empire in India.
- The company received a Royal Charter from Queen
Elizabeth in 1600, making it the oldest among several
similarly formed European East India Companies.
- Wealthy merchants and aristocrats owned the Company's
shares.
- 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 to assume direct control of
India in the new British Raj.
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