In which year did the East India Company acquire a charter as the sole...
In 1600, the East India Company acquired a charter from the ruler of England, Queen Elizabeth I, granting it the sole right to trade with the East, without competition from other British traders. But that royal charter could not stop other European powers such as the Portuguese, Dutch, and French.
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In which year did the East India Company acquire a charter as the sole...
The correct answer is option 'b) 1600'.
The East India Company was established on December 31, 1600, when Queen Elizabeth I granted it a royal charter. This charter gave the company a monopoly on English trade with the East Indies, which included present-day India and parts of Southeast Asia.
The charter was issued to a group of merchants and investors, who came together to form the East India Company. The company was initially focused on establishing trade relationships with the countries in the East Indies, particularly India, where they sought to acquire valuable goods such as spices, textiles, and tea.
The significance of the charter was that it granted the East India Company exclusive rights to trade with the East Indies. This meant that no other English company could engage in trade with the region, giving the East India Company a monopoly over this lucrative trade.
The company's monopoly status allowed it to establish trading posts and forts in various parts of India, such as Surat, Madras (Chennai), Calicut (Kozhikode), and Bombay (Mumbai). These trading posts served as bases for the company's operations and allowed it to establish a strong presence in the region.
Over time, the East India Company expanded its influence and control in India, eventually becoming a major political and economic power. It played a significant role in shaping the history of India, with its control over vast territories and resources.
In summary, the East India Company acquired a charter as the sole traders with the East from Queen Elizabeth I in the year 1600. This charter granted the company a monopoly over English trade with the East Indies, leading to its establishment and subsequent expansion in India.
In which year did the East India Company acquire a charter as the sole...
My answer is 1600 only why did u mark it as wrong?