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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 in the year: 
1. 1600
2. 1800
3. 1401
4. 1500

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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.

  • East India Company Begins Trade in Bengal.
  • The first English factory was set up on the banks of the river Hugli in Bengal in 1651.
  • As they expanded, the East India Company convinced merchants and traders to come and settle near the factory.
  • By 1696, the Company began building a fort around the Hugli settlement.
  • It also bribed Mughal officials into giving the Company Zamindari rights over three villages, one of which was Calcutta.
  • It also convinced the Mughal emperor Aurangzeb to issue a Farman, an official order, granting the Company the right to trade duty-free.
  • The employees of the Company also carried on their private trades and were expected to pay duty.
  • But they refused, which angered the Nawab of Bengal, Murshid Quli Khan, and led to fierce battles.

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