Question

In which year did the British East India Company acquire a charter from Queen Elizabeth I granting it the sole right to trade with the east?
1. 1600
2. 1612
3. 1628
4. 1598

Answer 1

Correct Answer - Option 1 : 1600

The correct answer is 1600.

• 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.
• And all those European companies wanted to buy the same things from India - fine qualities of cloth and spices.
• As competition grew, profits fell, and the European trading companies started building forts and fighting each other.
• With more business came more conflicts with Indian rulers, and it became difficult for the European traders to keep their business separate from Indian politics.

 

• Portuguese (1498) were 1st company that came to India with Vasco da Gama who had discovered the sea route to India via Cape of Good Hope(Africa).
• Dutch East India Company came in 1595.
• English East India Company came to India in 1600.
• Danish East India Company came to India in 1616.
• French East India Company was the last company came to India in 1664.