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Till the mid-eighteenth century, profits of the East India Company primarily came from
- a)Custom duties on goods entering Indian ports.
- b)Sale of Indian goods abroad.
- c)Sale of cheaper English-made goods in India.
- d)Oplum trade with China.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Till the mid-eighteenth century, profits of the East India Company pri...
Explanation:
The East India Company was established in 1600 with the aim of trading with the East Indies, but it gradually expanded its operations in India. Till the mid-eighteenth century, the profits of the East India Company primarily came from the sale of Indian goods abroad. This can be explained through the following points:
Expansion of the Company's Trade:
During the 17th century, the East India Company expanded its trade by establishing factories and trading posts in various regions of India, such as Surat, Madras, Bombay, Calcutta, and Bengal. They also established a monopoly over the trade of certain goods such as cotton, silk, spices, and tea, which were in high demand in Europe.
Export of Indian Goods:
The East India Company exported these Indian goods to Europe, where they were sold at a high price, generating huge profits for the Company. For example, Indian cotton was in high demand in England, and the Company's exports of Indian cotton to England increased significantly during the 18th century.
Monopoly over Indian Trade:
The East India Company had a monopoly over the trade of certain goods, which meant that they could control the supply and demand of these goods, and therefore, they could fix the prices at which these goods were sold. This led to huge profits for the Company.
Impact of the Company's Trade:
The Company's trade had a profound impact on India's economy. The export of Indian goods led to a drain of wealth from India, as the profits generated from the sale of these goods went to England. Moreover, the Company's monopoly over certain goods led to the exploitation of Indian producers, who were forced to sell their goods at a low price to the Company.
In conclusion, till the mid-eighteenth century, the profits of the East India Company primarily came from the export of Indian goods to Europe. The Company's trade had a significant impact on India's economy, leading to a drain of wealth and the exploitation of Indian producers.
The East India Company was established in 1600 with the aim of trading with the East Indies, but it gradually expanded its operations in India. Till the mid-eighteenth century, the profits of the East India Company primarily came from the sale of Indian goods abroad. This can be explained through the following points:
Expansion of the Company's Trade:
During the 17th century, the East India Company expanded its trade by establishing factories and trading posts in various regions of India, such as Surat, Madras, Bombay, Calcutta, and Bengal. They also established a monopoly over the trade of certain goods such as cotton, silk, spices, and tea, which were in high demand in Europe.
Export of Indian Goods:
The East India Company exported these Indian goods to Europe, where they were sold at a high price, generating huge profits for the Company. For example, Indian cotton was in high demand in England, and the Company's exports of Indian cotton to England increased significantly during the 18th century.
Monopoly over Indian Trade:
The East India Company had a monopoly over the trade of certain goods, which meant that they could control the supply and demand of these goods, and therefore, they could fix the prices at which these goods were sold. This led to huge profits for the Company.
Impact of the Company's Trade:
The Company's trade had a profound impact on India's economy. The export of Indian goods led to a drain of wealth from India, as the profits generated from the sale of these goods went to England. Moreover, the Company's monopoly over certain goods led to the exploitation of Indian producers, who were forced to sell their goods at a low price to the Company.
In conclusion, till the mid-eighteenth century, the profits of the East India Company primarily came from the export of Indian goods to Europe. The Company's trade had a significant impact on India's economy, leading to a drain of wealth and the exploitation of Indian producers.
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Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer?
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Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer?.
Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer?.
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Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Till the mid-eighteenth century, profits of the East India Company primarily came froma)Custom duties on goods entering Indian ports.b)Sale of Indian goods abroad.c)Sale of cheaper English-made goods in India.d)Oplum trade with China.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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