How did one trading company get ahead of other trading companis in the...
Before the British came to India for trade, the French had already been established as a trading company. They had set their bases in Bombay and Calcutta. The French had a monopoly in the subcontinent before the British took their place.
What made the British surpass the French was their way of expansion and trade. Following are the reasons why British moved ahead of the French and colonized India:
(i)They established an army to protect their factories/bases which was later used to occupy princely states.
(ii) They employed Indians in their company to gain public trust.
(iii) They slowly stepped into the governance by the Doctrine of Lapse, which gave them the right to annex states if their heir was not capable enough under British criteria.
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How did one trading company get ahead of other trading companis in the...
Introduction:
During the colonial race, numerous trading companies emerged to establish their dominance over colonial territories. One trading company that managed to get ahead of others was the British East India Company (BEIC). Through various strategies and advantages, the BEIC gained a significant edge over its competitors, resulting in its eventual supremacy in colonial trade.
Factors that led to the BEIC's success:
Several factors contributed to the BEIC's success and its ability to surpass other trading companies:
1. Monopoly and Charter: The BEIC was granted a royal charter by Queen Elizabeth I in 1600, giving it exclusive rights to trade with the East Indies. This allowed the company to establish a monopoly over the Indian Ocean trade, providing a significant advantage over other trading companies.
2. Financial Resources: The BEIC had access to substantial financial resources, enabling it to fund extensive expeditions, establish trading posts, and develop economic infrastructure in colonial territories. These resources were crucial in outcompeting other companies that lacked similar financial backing.
3. Naval Superiority: The BEIC possessed a formidable navy, which it utilized to protect its trade routes and ensure the safety of its merchant ships. The company's naval power allowed it to defend its interests, suppress piracy, and establish dominance over rival trading companies.
4. Political Influence: The BEIC managed to cultivate influential political connections within Britain, which furthered its interests. The company had the support of powerful individuals in the British government, including members of parliament and influential aristocrats. This political influence helped secure exclusive trading rights and favorable policies, enabling the BEIC to gain an edge over its competitors.
5. Trade Networks and Infrastructure: The BEIC established a vast network of trading posts and forts in strategic locations, allowing it to control key trade routes and monopolize trade in valuable commodities such as spices, tea, and textiles. This extensive infrastructure gave the BEIC a significant advantage over other trading companies that lacked such widespread presence.
Result:
As a result of these advantages, the BEIC emerged as the dominant trading company during the colonial race. It expanded its influence across the Indian subcontinent and Southeast Asia, establishing a lucrative trade empire. The BEIC's success laid the foundation for British colonial rule in the Indian subcontinent, which lasted for nearly two centuries until India gained independence in 1947. The company's dominance in colonial trade also contributed to the rise of the British Empire as a global superpower.
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