British East India Company Flashcards, test questions and answers

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What is British East India Company?

The British East India Company was one of the most powerful multinational corporations in history. Founded by royal charter in 1600, the company had a monopoly on trade between England and the Indian subcontinent for much of its existence, eventually becoming a major political presence with far-reaching consequences. The company’s influence stretched from Europe to Asia and beyond, as it sought to expand its empire while trading goods such as silks, spices, and tea.In addition to expanding commerce through exploration, the British East India Company had an important impact on politics in both Europe and Asia. In Britain, it helped create an interdependent economy that relied more heavily on colonial imports than ever before. It also helped shape imperial policies related to taxation and governance across Greater Britain’s colonies worldwide. Moreover, because of its extensive mercantile activities throughout South Asia including Bengal (modern-day Bangladesh), Bombay (present-day Mumbai), Madras (Chennai) and Calcutta (Kolkata) the company became a significant player in local politics as well. In some cases, this meant directly interfering in local conflicts or brokering deals between warring factions; at other times it could mean supporting one party over another in order to gain access to resources or control strategic ports along trade routes.The legacy of the British East India Company is complex but enduring: Its immense wealth allowed Britain to dominate world markets for centuries while simultaneously destabilizing many Asian nations with their aggressive practices; yet today we can see traces of modern capitalism stemming from the innovations pioneered by this pioneering enterprise.