East India Company Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about East India Company and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on East India Company and get quick solutions for your test.

What is East India Company?

The East India Company was a trading company founded in 1600 by Queen Elizabeth I. It was the first of its kind, and it would eventually become one of the most powerful commercial entities in world history. Its impact on the history of India, Europe, and the world is undeniable.The East India Company was established to tap into new markets for English goods as well as to increase England’s wealth by exploiting resources from around the world. The company set up trading posts in many countries across Asia, Africa, and even North America. It imported spices, tobacco, tea, cotton and other goods from these regions to sell in England for a profit. Over time the East India Company developed into an imperial power that had its own army and governed much of India until 1858 when Britain took formal control over the area.The rise of the East India Company had a significant effect on British society back home as well as on Indian society under its rule. Politically it helped strengthen Britain’s position not only within Europe but also globally as an emerging superpower with global influence. In terms of economics it allowed Britain to grow rich off imported goods such as tea which became popular amongst wealthy Europeans while simultaneously impoverishing millions in both India and China who supplied these goods at extremely low prices due to their lack of power or protection against exploitation by foreign companies like EIC. Ethically it allowed for immoral acts such as slavery and corruption which were justified using racist views about Indians being inferior or barbaric people unfit for self-rule or freedom from colonial oppression .Although some would argue that there were benefits gained from British rule such as infrastructure development or economic growth , overall this does not excuse or justify the oppressive nature that EIC imposed over much of South Asia during their two hundred year rule. Thousands lost their lives fighting against what they viewed as an unjust force while millions more were subjected to poverty , racial discrimination , religious persecution , forced labor , exploitation , violence , corruption etc due to EIC’s oppressive policies. Overall, while today we may look back at all that was accomplished through The East India Company – including advancements made in Indian education, infrastructure building efforts etc – we must always remember how these accomplishments came with brutal consequences for millions in South Asia who suffered greatly under its rule .