THE EAST INDIA COMPANY.

December 18, 2020 By Swapnil Suryawanshi

East India Company

The East India Company (EIC) was an English and later British joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with Qing China. The company ended up seizing control of large parts of the Indian subcontinentcolonised parts of Southeast Asia and Hong Kong after the First Opium War, and maintained trading posts and colonies in the Persian Gulf Residencies. The company is also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or the British East India Company, and informally known as John Company,Company Bahadur, or simply The Company.

The East India Company was an English and later British joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies, and later with Qing China.

What did the East India Company do :

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.

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Who owned 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.

How did the East India Company End :

The Indian Rebellion was to be the end of the East India Company. In the wake of this bloody uprising, the British government effectively abolished the Company in 1858. All of its administrative and taxing powers, along with its possessions and armed forces, were taken over by the Crown.

Was the East India Company good for India :

In Good Company: Re-evaluating the legacy of the East India Company. … The East India Company’s factory at CossimbazarBetween 1709 and the mid-19th century the East India Company helped expand international trade, nurtured the City of London and propelled the Industrial Revolution and British prosperity.

Does India still pay taxes to England :

The British Company still earns a royalty of 1 crore 20 lakhs from India every year. The Rail Budget was also released with the Union Budget. Since the Modi government came to power, the two budgets have been merged to be presented together.

James Lancaster commanded the first East India Company voyage in 1601.

Expansion :

The company, which benefited from the imperial patronage, soon expanded its commercial trading operations. It eclipsed the Portuguese Estado da Índia, which had established bases in GoaChittagong, and Bombay – Portugal later ceded Bombay to England as part of the dowry of Catherine of Braganza on her marriage to King Charles II. The East India Company also launched a joint attack with the Dutch United East India Company (VOC) on Portuguese and Spanish ships off the coast of China, which helped secure EIC ports in China.The company established trading posts in Surat (1619).