Origins of the British East India Company and Its Influence on the British Imperial Government and North American Colonies

1117 Words 5 Pages
The British East India Company played a key role in one of the most successful periods of British history. The East India Company was responsible for the invasion of the Indian subcontinent, which became one of the empire’s leading supplier of profits. The East India Company was responsible for the overthrow of Hong Kong and other Asian countries; it was responsible for creating Britain’s Asian empire. The British East India Company began as a joint-stock corporation of traders and investors which was granted a Royal charter by Queen Elizabeth 1 to trade with the East. The original name of the corporation when it first formed was Governor and Company of Merchants of London Trading into the East Indies (Landow). They joined together to …show more content…
The Mughal territory included northern and central India and it was rich in merchandises that would profit the enterprise. Final agreements were reached in 1615 that allowed the corporation to start a base. It sent “Indian textiles to the market at Bantam [from Surat]” (The [British East India] Company Story). This led the group to become the major trading business over the French, Dutch, and Portuguese trading companies in the Indian subcontinent. India had great proficient dyers and weavers that created cloth which went in demand throughout Asia and England. The company by 1690 “had trading centers (known as factories) all along the West and East of India” (The [British East India] Company Story). For instance, major bases were at Calcutta and Bombay. London was also an essential trading base “where goods were imported, exported and transferred from one country to another.” The British East India Company was allowed by the Chinese to trade at Canton in 1699. The conglomerate purchased products like tea and silk from China, covered the charge with silver. England began to worry that too much silver was being used to compensate for the tea; as a result, the British East India Company started to grow Opium in India to pay to the Chinese. By 1750, Indian silks, cottons and calicoes formed 60 percent of the organization (The [British East India] Company Story). Throughout this time, the Mughal Empire was subsiding. Provincial states began to emerge and they were

More about Origins of the British East India Company and Its Influence on the British Imperial Government and North American Colonies

Open Document