What ended the rule of the British East India Company answers com?

What was the original goal of the British East India Company answers com?

The East India Company was initially created in 1600 to serve as a trading body for English merchants, specifically to participate in the East Indian spice trade. It later added such items as cotton, silk, indigo, saltpeter, tea, and opium to its wares and also participated in the slave trade.

How was British East India Company formed?

In 1600, a group of English businessmen asked Elizabeth I for a royal charter that would let them voyage to the East Indies on behalf of the crown in exchange for a monopoly on trade. The merchants put up nearly 70,000 pounds of their own money to finance the venture, and the East India Company was born.

Why did the East India Company came to India?

The British East India Company came to India as traders in spices, a very important commodity in Europe back then as it was used to preserve meat. Apart from that, they primarily traded in silk, cotton, indigo dye, tea and opium. They landed in the Indian subcontinent on August 24, 1608, at the port of Surat.

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In which act the rule of East India Company ended in India?

End of Company rule

The Company lost all its administrative powers following the Government of India Act of 1858, and its Indian possessions and armed forces were taken over by the Crown. … Thus began the British Raj, direct imperial rule of India by the British state.

How did the decline of Mughal influence affect the East India Company?

How did the decline of Mughal influence affect the East India Company? … The decline of Mughal power allowed the East India Company to expand its trading operations across the region. The decline of Mughal power resulted in the rise of a new Indian ruler who wanted to expand trade with the East India Company.

What happened to the EIC after the revolt of 1857?

In the aftermath of the Indian Rebellion of 1857, under the provisions of the Government of India Act 1858, the British government nationalized the EIC. … The EIC was officially dissolved in 1858 and the rebellion also led the British to reorganize the army, the financial system, and the administration in India.