The Mughal emperor who issued a Farman to English East India Company i...
In 1717, Farrukhsiyar issued a farman giving the British East India Company the right to reside and trade in the Mughal kingdom. They were allowed to trade freely, except for a yearly payment of 3,000 rupees.
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The Mughal emperor who issued a Farman to English East India Company i...
Mughal Emperor Farrukhsiyar issued a Farman (royal decree) to the English East India Company in 1717 to trade freely in Bengal. This was a significant development in the history of British colonialism in India. The following are the main points regarding the Farman:
Background:
- The English East India Company had established a trading post in Bengal in the early 17th century.
- The Company faced competition from other European powers, such as the Dutch and the French, who were also trying to establish their presence in India.
- The Mughal Empire, which ruled over most of India, was in decline and facing internal conflicts and external threats.
Content of the Farman:
- The Farman granted the English East India Company the right to trade freely in Bengal.
- The Company was exempted from paying taxes and customs duties on its goods.
- The Company was allowed to build factories and warehouses in Bengal.
- The Company was granted permission to export goods, such as textiles and opium, from Bengal to other parts of India and Asia.
- The Company was also allowed to import goods, such as saltpeter and indigo, from Bengal.
Impact of the Farman:
- The Farman gave the English East India Company a significant advantage over its European rivals in Bengal.
- The Company was able to expand its operations and increase its profits.
- The Company also gained political influence in Bengal, as it became a major player in the local economy.
- The Farman set a precedent for future colonial policies in India, as the British gradually gained more control over the country.
Conclusion:
In conclusion, the Farman issued by Mughal Emperor Farrukhsiyar in 1717 granting the English East India Company the right to trade freely in Bengal was a significant development in the history of British colonialism in India. It gave the Company a significant advantage over its European rivals and set a precedent for future colonial policies in India.